"A man is not finished when he is defeated. He is finished when he quits."

Saturday, February 2, 2013

For the first time in approximately 3 1/2 years, I made a live daytrade yesterday.  It was not in my Interactive Brokers trading account but rather in Mrs. BlueCollar's IRA.  I am a fan of the 3x smallcap index etf  TNA but her IRA does not allow shorting so I traded long its inverse etf, TZA.  2000 shares, I went long just after it bottomed then the market went as dead as I've seen it for about 2 1/2 hours !!!!  I couldn't believe it... I hadn't seen this as long as I remember in TNA or TZA inthis case!  I went long in this inverse etf just as the DOW hit 14,000, a major milestone.  Then it just sat there.  Finally, the markets retreated and my etf went up some, though not to the extent I was expecting.  That means the markets will likely drop on Monday, in my opinion.