Social Icons

Wednesday, May 18, 2011

Today, I day trade Horizons BetaPro COMEX Silver Bull Plus ETF (HZU)

Today, I wake up early because yesterday was the day were I could had sell what I own of Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) but I miss the opportunity since I did not wake up. As excuse, all I can say is that I finish work at midnight, arrived home at 1am and go to bed usually around 2am. Yesterday, Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) hit the 7.92$. I could had sell the units I had purchased at 7.79$, but I miss the boat. Same thing with Horizons BetaPro NYMEX Crude Oil Bear Plus ETF (HOD)... I could had sell HOD at profit yesterday, but there also, I miss the boat. The morning is really a good period for day trading, I know that now.

However, sometime, things happen for a reason, maybe I will be able to make a bigger profit on Horizons BetaPro COMEX Silver Bear Plus ETF (HZD) and Horizons BetaPro NYMEX Crude Oil Bear Plus ETF (HOD) than the ones I could had made yesterday.

Today, I wake up at 9am, just on time to eat breakfast and make myself some coffee before the Toronto stock market open. Today, my goal was to catch up with my flop of yesterday. Today, I wanted to sell HZD and HOD at profit. But it did not happen. Currently, both HZD and HOD are down... but Horizons BetaPro COMEX Silver Bull Plus ETF (HZU) is up...

I could not resist trading silver again on margin trading alias day trading... so I jump, purchase 200, just 200 units of Horizons BetaPro COMEX Silver Bull Plus ETF (HZU) at 9.47$ and I sell at 9.70$, for a cutty profit of 26.02$ after commission... I am done for the day with day trading.

It’s looking good for First Majestic Silver Corp (FR) who’s currently up of 4%. I have hoped to make a profit out of this one. Maybe not today, but at a later date, certainly, just like for HZD and HOD.

When HZD is down, HZU, PHS.U and other guys are ups. Knowing that, day trading on silver is possible and interesting.


Anonymous said...

yeah, silver is up so you're doing good with fr, phs.u and pslv. But you're losing 7% with HZD. That's like betting on a hockey game. You bet with one friend that Montreal will win and the other one that Boston will win. You're sure to win one, but also sure to lose the other. I can't see how that makes any sense. You say HZD is for day trading, but you've held it for more than a week. And for HZD to go up to the price you paid for, you'll lose what you made today on FR, PHS.U and PSLV and then some. So why get excited about silver gains today.

So you better decide what you think silver is going to do. If you think it's going up, HZD will keep going down in value and might never recuperate. Is silver goes down, you'll do ok with HZD but lose on all your other silver stocks.

Anonymous said...

Sunny, have you decided how you're gona make money with HZD if silver keeps going up.

Sunny said...

Oh yeah, I still hold HZD, as well as HOD and FR. I am hoping those titles will go up so I can sell. HZD is going up, but do not exceed the 7.79$ I need to sell at profit. But a learn my lesson. Day trade yes, but moderately.

Anonymous said...

Sunny I'm sorry to say you're making some really big mistakes here. If you're already holding HZD and you want to make a day trade based on silver going up, then you don't even need to buy HZU. All you need to do is sell the HZD you already have in the first place. All you accomplished by buying HZU was burn two commissions that you didn't need to pay for. You didn't really make any money on your HZU trade because all you actually did was trade the profit from HZU into a loss on HZD which you're still holding (and leveraged ETF's should never be held more than a day or two because the time decay will kill you, especially with a volatile commodity like silver).


Thank you

Thank you for visiting!
Blogger Templates