Riding The Gravy Train: Current Strategy, buying QID

Riding The Gravy Train

Beating the market is fun and profitable. This is how we do it.

Monday, March 24, 2014

Current Strategy, buying QID


As noted previously, we have existing market shorts (primarily TZA and VXX) which are below our entries but will serve their purpose and likely offer profits once markets turn down in earnest.  That time is overdue and, we believe, upon us or nearly so. 

In the meantime, despite showing losses on those hedge positions, thanks to many winners our portfolios are at all-time highs and in the case of stocks, including those paying dividends if applicable, that are far higher than our entries we're putting tight stops on at least a portion of holdings if not selling portions or entire positions outright.  "It depends."

Ideally, we sell enough to effectively make the remainder free of cost and we'll adopt an additional market short position. 


QID looks set to break its downtrend, as seen on the chart below, though we caution it has not yet done so. 



A close above $58 would seal the deal, and we'd be buyers at that point with a stop at $54.40 which is just below recent lows.

















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