$8.39
0.15 (+1.82%)
UltraShort Real Estate ProShares (SRS)
CAPS Rating:
Exchange traded fund
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Because Ultras Suck
I trade SRS with real money and can definitively say that it does not suck to buy at $50 and sell at $80 in under a month.
"Owning SRS is like dating a stripper. It's fun for a while but everyone knows it won't end well." - Jeff Macke
This isn't a long term relationship.
How did you like it going from $100 to $23 over the past 3 weeks? yea that was fun. This ETF is fun for CAPS but a very bad choice for real money investing.
I loved it. Like I said - I sold it at $80. I also bought in again at $28, sold at $33. May pick up some more in the low $20s. SPG just cut its divy. VNO reports on May 5th.
BXP announced it may cut its dividend yesterday as well
It hit the teens on Friday and when I made that comment it was near $100.The stripper stole the car, trashed the house and now is suing for child support. :)
Maybe so, but I'm back in for another fling at $20. The overall trend is down. No one can dispute that. Yet, it does not eliminate opportunities to profit on upswings.
Regardless of when you made the comment, your start price was near $60. Selling a long position at $100 would have generated the same profit as shorting to $20.
Im long it at $20 and change in real life as well so settle down.. :)
The point I am making with this portfolio is all of these levered ponzi's are headed to zero in the longer run. That was the point I was making when it was $100.
I won't hold one of these things for more than a few days, tops.... I have held for weeks but only when the trend was STRONGLY with me.
I am in total agreement with you on the dangers of leveraged ETFs, just trying to point out that you can make more points trading them than holding a single short position (which is unadvisable and difficult to obtain in the real world anyway). Stop-loss orders are essential. I have held positions open for a few weeks on several occasions and it is excruciating. As soon as my current position is closed I'm off of leveraged ETFs for good. I will start taking gains off the table over $25 and hope to close out the full position at $30 if I'm not stopped out first.
This thing can be dangerous. I bought at 40 and it went to 42 by the end of the day. It opened the next morning at 36 and just kept heading south. It's not one to hold without stops, but one day soon this one could take off and head back to 50 in short order. Lately its only been good for some tiny gains and losses as it retraced to stop out, but one day.....
UltraSuck: Im long it at $20 and change in real life as well so settle down.. :)
As you clicked 'buy', did the image of Luke Skywalker seeing his own smoldering face in Darth Vader's helmet flash through your mind?
Seriously though, up until I saw your post I did not comprehend the power of the Dark Side of the Force.
Seriously..... Im glad I only held that puppy for a few days.. I see it is at $8 now... probably reverse split time.
I just bought a bit of SEF (short financial ETF). Don't worry, no ultras for me!!!