SSO - profit?

Bought October 12. 2007 at $99.89

3/9/2009 $14.59
3/9/2009 $14.67

OP, March 9, 2009 was also a significant day for PIR when it bottomed out at 11 cents per share and now is exceeding $22.00 per share. Where was I that day?

Nice find! That definitely deserves its own thread.

Of course, the chances of Pier 1 going under were much more significant than the US going under (although they weren't insignificant on the latter).

Can you guess who said this to me.... ?

"By that time you'll have lost 70% of your money on your double-long SSO. Kiss it good-bye now."

SWE, was that the time you had the flatulence problem?
http://streeteasy.com/nyc/talk/discussion/28161-i-love-fast-money

http://streeteasy.com/nyc/talk/discussion/27775-us-debt-downgraded-where-do-we-open-monday?page=6

Hee, hee, you found 'em.

But I always have a flatulence problem...

Those are some good threads. That Steve is a riot...

Look for new comments saying he was actually buying at the time...

>Bought Mar 9, 2009 at $16.57. Sold Feb 8, 2013 at $67.57.

and Friday https://www.google.com/finance?q=sso at $79.21

So? Not aiming for the top is a hallmark of wise investing. Determine at what point you are going to sell, reconsider if necessary, and do so without egrets when you've hit your profit goal.

Egrets. Giving the market the bird.

>Not aiming for the top is a hallmark of wise investing.

Don't be greedy - good thinking. What are the other hallmarks of wise investing?

How about never invest in a product that has daily slippage due to rebalancing?

"So? Not aiming for the top is a hallmark of wise investing"

Especially when it drops right after. Feeling pretty good...

Why didn't you just invest in futures which have no expense ratio and no slippage, yet still offer leverage? As much money as you made, you left some on the table. Keep trading these leverage ETFs with no knowledge of them, probably will turn out well.

because futures have fixed end dates.

keep telling me about my "no knowledge" while I collect my 400% profit.

jealous much?

Fixed end dates? Its called rolling. Like I said, you were trading a product you obviously don't know anything about. Its not meant for longterm holding. Due to mean reversion and rebalancing the longterm drift is negative. You could've have gotten way more leverage trading futures and made a higher percentage. Did you SSO rebalances everyday so it is double the DAILY percentage move? Probably not.