Originally Posted by
boog123
Who wrote this again? Oct 2:
"If you haven't set up a brokeragelink do it first thing monday morning. Put all available investable assets there (sitting in a tax exempt moneymarket trust). The market is going to fall off a cliff within the next 2 weeks... sooner rather than later.
Wait for the market to hit bottom...by 3rd week in Oct. Buy a good 3X etf like tna or erx. Plan to sell in april sometime and shift your holdings to a 3X inverse etf like FAZ. Rinse repeat. Not much babysitting required.
FWIW, from the guy who bought erx monday (not friday) at 30.80 and sold tues for 38, a 25% gain in two days in full view of you folks.
Again, not investment advice, do your own due diligence, your mileage may vary, you are responsible for your own actions, etc."
Too bad we can't trade options on these positions in our 401(k) or DC. All we can do is sell covered calls and cash secured puts. It's nice to be able to do that, but I could do other risk defined strategies with a lot less capital at risk than buying the stock. Mother Delta can't seem to understand this just like they can't seem to understand how to hedge fuel.
Full disclosure I have positions in and I trade TNA, ERX and FAS.