Big money out there (buy, make money, 401k, commission)

[Nepenthe]

This isn't a big important thread full of sweeping statements and high concepts. This is just a place to post ridiculous big money deals that you've seen. I was not smart enough to get in on any of these myself (although I made $480 net on another day traded DJX put today and $188 net on shares of DUG, woohoo).

First, I was researching mutual funds (not ETFs or closed end funds) on my brokerage firm's site and happened to look for funds that were up 20% this year. I found some:

DXQSX -- DIREXION NASDAQ BEAR
up 11.82% today
up 109% in twelve months (not including today!)

UXPIX -- ULTRASHORT INTERNATIONAL PROFUND
up 15.91% today!
up 86% YEAR TO DATE (not including today!)

Wow, if those were available in my 401K things would be different!

Second, I've been watching the new 3X and 3X inverse ETFs. Check out what this one did today:

ERY -- ENERGY BEAR 3X
up 34.45% today!

Third, I've attached an image of one of the stronger option contracts from today. The quote shows it was up 1180% in one day!! That's like magic!! There are tons of calls on short funds and puts on indexes that were up 300% to 600% in one day today.

In reality, your purchase price Wednesday would have been 30 cents (Ask) and your selling price Thursday would have been $2.75 (Bid).

You could have bought 20 contracts for $623 including commission Wednesday, and sold them for $5477 including commission Thursday for a personal one day return of 779%.

I'm not suggesting anyone go for these necessarily -- all of these are extremely risky strategies. This is for pure eye-popping numbers. Somebody's getting very rich. But as Jeff Macke said today, it is far, far too easy to get rich shorting the market right now. It's not going to last. But I'll be there to profit on the way up as well...

Please post your eye-popping jumps, everything's fair game. Thanks.

[killer2021]

pretty funny. All the bear and short funds are doing good.

[Nepenthe]

Lots more money to be made today...

[TexianPatriot]

I sold out of my SKF early. Bought in at $170 and sold half at $225 and the rest at $240. Look where it's trading now.

oh well. as they say, bulls and bears make money, but pigs get slaughtered. I live to trade another day.

[TexianPatriot]

I might pick up some Citi if it goes under a dollar, strictly for a trade. I reckon them idiots on capital hill will try to do something to prop them up. I'd feel alot better about getting short again if we had some kind of rally. Everyone is so bearish all of a sudden that we could be in for quite a short squeeze.

[Nepenthe]

[quote=Nepenthe;6249736]But as Jeff Macke said today, it is far, far too easy to get rich shorting the market right now. It's not going to last.QUOTE]Well, it didn't last for today. I'm glad I listened to my own advice (err, Jeff's advice). The SoT announcement took me by surprise, so I missed out on that. When I saw things just kind of floundering (we crossed the "line of scrimmage" ten times today in a relatively narrow range) I excused myself.

Gold was amazing today. Fidelity Select Gold up 24% in one day.

I'm seeing lots of suddenly-in-the-money November calls today that were totally beat up that went up 500% or more in the last hour.

[Nepenthe]

Originally Posted by TexianPatriot

I might pick up some Citi if it goes under a dollar, strictly for a trade. I reckon them idiots on capital hill will try to do something to prop them up. I'd feel alot better about getting short again if we had some kind of rally. Everyone is so bearish all of a sudden that we could be in for quite a short squeeze.

I might buy a few calls myself. December $10 is 24 cents and could move a lot with a bailout rally, for instance. Volume on Citi calls in general was humongous today.

[jimmyP]

Yep, I have had some good trades recently myself. I popped 100% in 2 days on WaMu last month.
Popped 30% gain on shorting GM 2 weeks ago. Volatility can be your friend. Wished I could have picked Citi's fall. But them Pandit would be mad at me !!!