Ok, so here I am: I just buy 150 units of Horizons BetaPro COMEX Silver Bull Plus ETF (HZU) at 33.20$. I place a sell order at 34.70$... Will I be able to finally make a little profit out of the silver with HZU? That's what we are going to find out! It's going to be easier with this one. PHS.U was too much difficult with his American currency affair.
Going back to work after a 2 crazy weeks of so call "vacation" lol... but it was nice.
Remember and focus: we are going to make a 150$ cash out of the silver - I hope for this week.
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3 comments:
These are double etfs and if you better be careful, look at the 52 week low.
I will be careful. This one is for a quick buy and sell. I could had sell today and make a profit of 67$ or so after commission. But I didn't sell.
I took a look at Claymore Silver and other Horizons Silver, but I choose HZU because the trading was higher on HZU. It was the only reason why I pick HZU. And also, well, it been mention on my blog.
After my frustrated trade with PHS.U, I wanted to get a profit made of silver out of somewhere.
Rob recommended that you buy HZU in a previous post. What he neglected to mention is that since HZU is a double return leveraged ETF it is made for only short term daily holding. Over the long term its value decays. Certainly in a volatile market where daily price swings both up and down are common, the decay will be accelerated. Basically, hypothetically, even if Silver were to double in 2 years, there is a likelihood of HZU actually losing considerable value. I won't go into all the details, but the message is this, HZU decays in value and should never be held for more than a couple of days.
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