Saturday, August 16, 2014

Still waiting for the other shoe to drop

As expected I got stopped out of one of my bets last Monday. I dumped my short of the Dow at $26.16 for a loss of $6.00 on the transaction. YTD list of buys and sells below. 

Fund Date Bought Price Paid Date Sold Price Sold Gain/Loss Per Share Total Gain Total Loss
GDX 1/18/2014$22.003/19/2014$26.00$4.00$400.00
DUG 1/6/2014$50.791/22/2014$51.23$0.44$44.00
UBT 1/6/2014$53.502/20/2015$55.34$1.84$184.00
SCO 12/30/2013$34.421/22/2014$34.45$0.03$3.00
DXD 1/22/2014$27.982/10/2014$29.90$1.92$192.00
UCO1/22/2014$29.013/5/2014$33.94$4.93$493.00
DZZ1/30/2014$7.202/3/2014$7.02-$0.18
-$18.00
DDM2/10/2014$104.613/13/2014$109.41$4.80$480.00
DIG2//11/2014$62.743/11/2014$69.90$7.16$716.00
UBT 2/24/2014$56.043/6/2014$56.24$0.24$24.00
UBT 3/13/2014$56.693/11/2014$61.55$4.86$486.00
SCO 3/12/2014$29.893/26/2014$29.56-$0.33
-$33.00
DXD 3/13/2014$28.443/17/2014$27.96$0.48
$48.00
DZZ3/25/2014$6.364/4/2014$6.44$0.08$8.00
SCO 7/15/2014$27.227/16/2014$26.55$0.67$6.70
DXD 7/31/2014$26.227/11/2014$26.16$0.06
$6.00
SCO 7/30/2014$26.38


























$3,030.00-$111.70





Total GainsTotal Losses
This leaves me with one bet on the table which is my wager on the price of crude going down. Model Portfolio below. 

SCO10026.3829.23$-55.00$+285.00+10.80%$2,923.00

Total


$ -55.00$ 285.00 10.80%$ 2,923.00
I am already up 10.8% in just a couple of weeks which leads me to the eternal dilemma facing gamblers. The conservative move would be to sell now and take the 10% gain. The greedy move would be to hold out for maybe a 15% gain before exiting. Being as this is gambling and not investing I'll be real greedy and hope for a 20%er. As usual I will keep you posted. I still think we have a modest correction in store between now and November. After that I see a parabolic move up to 20,000 on the dow by late 2015 and then a virtual collapse after that in 2016. My current plan is to pick up a little on the mini correction this fall, then ride the parabolic move up to late 2015 and then short everything during the coming collapse. Ah to dream, perchance to dream.
 

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