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Registered User
Joined: 3/22/2005
Posts: 9
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I sold some dogs yesterday to get a decent cost basis on my QID short, this short is now 69% of the portfolios and this ETF has 2.5 leverage to the QQQ index.
I'm screwed, I'm only down 2.5% on the position and I feel that the market is do for at a little bump down.
My clients have not lost money this quarter because they have gained in other poistions, so net net they are more or less even this quarter but I cannot add to this postion anymore and I do not want to sell it and then watch reality set in the market.
I guess I need to at least set a stop on some of the shares because this position is way out of control, HELP PLEASE!!! and don't tell me to sell the whole thing.
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Registered User
Joined: 3/22/2005
Posts: 9
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Maybe I just need to figure out how much absolute value I'm willing to sacrifice, while waiting, and get the excuse book ready!!!
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Registered User
Joined: 3/22/2005
Posts: 9
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Yeah, thats good stuff thanks
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Registered User
Joined: 12/2/2004
Posts: 1,775
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QID not exactly as you say. It's the inverse to QQQQ at 2x, i.e. if QQQQ down 1%, QID will be up 2%, and vice versa. Good luck with it, I stopped out yesterday when it broke long time support. You definitely need to be careful with QID, pick your buy points carefully and stick to a predetermined stop loss level. I think a pullback in the market soon, so maybe you'll get a good play with it. I may give it another try at some point.
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Registered User
Joined: 12/21/2004
Posts: 902
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QUOTE (fpetry) I think a pullback in the market soon, so maybe you'll get a good play with it.
Maybe I'm misunderstanding, but isn't he short in QID? If there is a pullback, he is screwed. I'm trying to figure out the strategy - sort of a 2x QQQQ (8 q's?). I'm not really sure what his issue is though - until the pullback he should be doing fine.
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Registered User
Joined: 12/2/2004
Posts: 1,775
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I think he used the word "short" in context of QID's official name, ProShares UltraShort. I think he's long QID hoping for a pullback in market as QID goes up if market goes down.
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Registered User
Joined: 12/21/2004
Posts: 902
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ok - because otherwise it was starting to make my brain hurt.
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Registered User
Joined: 9/21/2005
Posts: 566
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Whats the benefit of buying or shorting QID except as portfolio insurance? It seems like a call on the direction of the market otherwise. Which, I guess is OK if that is your thing but can't you achieve the same purpose with better results by shorting stocks with a little more research and analysis. I think the outcome would tend to be better. I tried trading s&p 500 futures for a while but success was fleating. I think when you trade an index in either direction you are going up against the best of the best. Does not seem to be a long-term winning strategy to me?
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Registered User
Joined: 5/1/2007
Posts: 158
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Actually,you can often make money in indices. But bankrobber is making a classic mistake. Net shorts need to cover sometimes. He knows what is necessary, but won't pull the trigger. I once lost 40K overnight with that attitude.
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Registered User
Joined: 12/7/2004
Posts: 393
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Why would anyone go against a rising tide with an index fund ? 
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Registered User
Joined: 10/16/2004
Posts: 8
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I trade the QID's and have learned to let myself get stopped out it is cheaper and easier on the brain.
nothing is more draining than having a position go against you.
I'm thinking the QQQ's are going to 48-50 this round maybe. I read today about the NDX strong resist at 1900,1963,1981 from 2001 so that could put the QQQQ's where they are now 46.70 to 48.22 - 48.72
Should put the QIDS around where they are now at 47.62 - 44.58 - 43.58.
It seems pretty much everyone is expecting and has been expecting a sell-off.
I remember 1997-2000 and hearing the same thing with the net stocks.
the msft-yhoo rumor today should show what can happen along with that p.o.s. amzn the other day.
Croc aapl the other day also.
I do also expect the market to sell off but have decided to wait until the trend changes and will most likely miss the first swoosh down.
heck I've been waiting for the dow to sell-off keep looking at the DXD along with all of the other ultra shorts but some of them sure don't have any volume.
all I know is i was long for a bit on the qids right after the last fed meeting and got annoyed, prayed; did all of the “real great” money management tricks.
Finally got the bright idea of closing out the losing trade.
I feel better
The neighbors like me better, the sun seems shiner, and heck I even went long a few times on the NDX with calls. And made it back so great a big old circle.
Live and learn or remember next time what didn’t work last time.
The QLD moves like a slug and i don't trust it.
anyone notice how sometimes during the day the QIDs will give you a few minute notice as it starts moving ahead of the qqqq's of course sometimes they are great fakes and all of sudden a spike on no volume.
did anyone get the dividend on the QIDs a bit ago I was long and flat on them and got a dividend with no price reduction in the QQQQ's.
going to be interesting when the QQQQ's if they ever do get back around 70 what value will the QID be then or will they change them somehow.
QIDs are only tools not buy and hold nor buy and pray is what I've learned.
margin and short interest both at highs along with most are saying the same thing the markets need a rest except rest of the globe is going crazy and with our dollar we are exporting more now and imports aren't going up in price so low inflation what's not to like.
besides fear and greed.
plus I can still pick up a few pennies most days on the qids.
right now not much but still a few here and there add up.
Read Dr. Elders books
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Dear bankrober, what was your original plan? Do you daytrade or position, swing? what amount of shrs? how long? You ask for help, but fail to give critical info to help you. You are double betting agains the Q's in a very very bull market.
Will a small retracement be enoughg for you?
You are only 2.5% down in losses I would strongly recommend selling. You can always ride back up the little bump you are talking about, which you are HOPING it will happen. HOPE is bad in this business.
good luck
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