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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Kayaker who wrote (117854)	2/17/2009 1:06:18 AM
From: axial	Respond to of 206121

I hear you. Agree completely about leveraged ETFs, but have done okay with them. When trading, watch for certain events to happen (esp daily rebalancing). Closely watch AD and RSI, and try to buy in at session lows, consistent with a short-term run. Sometimes the commodity will be rising, and there'll be a big, counterintuitive selloff; be careful. Rarely hold overnight. Check accumulation for at least the previous week - you don't want to buy in just when everyone's looking for an exit. Stay away from thinly-traded ETFs - there's usually just a few regulars there, and they'll try to kick your ass. If the trade is going wrong, get out fast: don't hold, hoping it'll get better tomorrow. Sometimes when you think it will fade, it rises; I've sold for $0.50 gains, when I could have made $1.50. --- It's like juggling nitro - no fun at all. Set a target, get in and get out. Never bet the farm - just use your play money. Why do it? Most long positions are going sideways these days: max uncertainty and volatility, not much direction. --- Two things you can't tell others how to do: raise their kids, and invest. Not suggesting anyone else would want to do this. Your comments are right on the money. Jim