Monday, December 15, 2008

Getting Longer SRS

As my previous post indicated, I have added a 2nd unit to my SRS position at $83.50 as it has moved upward thru my trigger level of $83.40.

I am now long 2 units of SRS at $81.65

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 2 units Ultrashort Real Estate ticker SRS @ $81.65 stop at $68.55


synthetik said...

Hi there,

Will you re-enter this trade or abandon for now? I have a 50% position now at an average cost of about $70, although I expect this to possible get into the 50s or even 40s before this rally is done.

I will add more mid 50s and then ride it to 250+.

Why use stops on something so volatile?

Harleydog said...


yes, looking to re-enter. as for stops you must use them or you will end up like Nick Leeson, LTCM among others in the speculating graveyard. Must live to trade another day, no matter what these others tell you.

I realise it is popular and pls take no offense but the pros average up, never down. Good speculating to you.


synthetik said...

No offense. I have averaged down many times and reaped many rewards. At the same time, this approach has cost me big losses on UNG and RIO recently.

I've been options trading for over 2 years so I'm still learning. So far I'm up 1100% during that time, so not doing too shabby.

When I get in trouble with ETFs I usually just average down and wait it out. 95% of all my trades have been PUT options so I'm only familiar with trading ETFs (SRS and SKF) in my retirement accounts.

Always a lot to learn.

Harleydog said...


thx for reading and taking time to post. Always good to discuss thingss. 110% is awesome congratulations.

I just have seen countless #'s like Leeson of Barings, Hamanaka of Sumitomo, et al averaging down and it all ending in tears each and every time.

Yes, always much to learn ! Continued success trading to you.