Wednesday, October 8, 2008
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
1 comments:
Hey, Upside,
Looking through the "ultra" etfs for yesterday at 12:49 ET...
I saw a pause for several seconds at that time on QID, SMN, and SDS. It was a decision moment, then the rally began. I wasn't watching UYM at the time, but (looking at its chart this morning) there were SEVERAL MINUTES during which its price appears to have been stuck. Who knows what the spread was, but it would have been tough watching the others pull away and not getting confirmed. You might want to check this on your system. Here's what my 1-minute chart of UYM shows.
The normal 1-minute volume on UYM is significantly less than any of those others, apparently making it an inferior trading vehicle.
By the way, XME was sweet, and it got a little head start, though I didn't trade it.
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