Thank you so much for the update!!

Vanguard allowed me to buy SGG today in my IRA. But rejected my fancy ideas of shorting QQQ and SPY with any and all leveraged and unleveraged ETFs. Does not allow leveraged or inverse funds. Booo

As of now, there aren’t any announcements from Barclay’s regarding any changes or issues with SGG so that might just be something that your broker has decided to do: https://www.ipathetn.com/US/16/en/static/pressreleases.app

I’m guessing that you might have tried to buy SGG in an IRA account & if so, many brokers have stopped allowing the purchase of ETNs in IRA accounts since they don’t want to mess with the K-1’s anymore. If that is the case, that would explain why your broker is only allowing existing positions to be close out with no more new purchases & if so, you’ll probably be blocked from buying CANE as well. I’m sure they could explain why the block on the opening order.

I’ll try to post some equivalent targets on CANE asap & also look into what you said about SGG. For now, I would just extrapolate those targets as they were rough targets anyway, to be refined based on the charts of /SB (sugar futures), which is probably the best proxy for trading sugar, for those with the ability, capital, & experience to trade futures.

I recently warned of the potential risk of leveraged ETFs & especially, the ETNs (like UWT/DWT) of ‘blowing’ up due to the complex use of derivatives & leverage to juice the returns of the underlying sector or commodity they are tracking with the 3x leveraged ETN’s having the greatest risk.

I haven’t glanced the news but it looks like a couple of other members chimed in here that UWT & DWT are being liquidated & with both essentially flat today with crude soaring, looks like that is the case. Best to stick with ETFs vs. ETNs, when possible, and 2x or 1x vs. 3x leverage factor, as well.

Also, a 2x or 3x leveraged ETF or ETN that tracks a very volatile sector of commodity, such as crude oil, nat gas or gold mining stocks, will run a higher risk of running into issues vs. those that track a less volatile index or sector, such as the S&P 500 (SDS).

I’ve been following LQD closely but there haven’t been any significant developments worth noting. The trade still looks fine but don’t expect it to play out as fast as the previous 2 short trades on LQD. In this one with the expectation that it might take longer. LQD has been & likely will continue to trade largely in line with the stock market as future growth expectations for the stock market are essentially the same for the future expectation of credit quality (i.e.- ratings) for the bonds in LQD.

I mentioned last week that I could see the stock market grinding around more over the next couple of weeks vs. that mostly straight down & up thing it did over the past couple of months. Should that continue to be the case, as it has been so far this week, then LQD will likely do the same. As such, a little more patience might be required with these swing trades although this market could just as well start another sharp leg down any day now. Sitting tight on the LQD & stock index swing shorts for now as both still look good.

Yes & we already have. Please see the update I just posted on SGG: https://rightsideofthechart.com/sgg-sugar-first-price-target-hit-for-a-12-profit/

Congrats to those that took the trade and to Randy for another timely call.

DUMPING EVERYTHING!!!! Lol jk

All I could find to buy on Fido was USOI and NRGU, but they scared me too, so I booked my profits on them as quick as I could today. Low liquidity/volume is never fun.

not a big volume mkt. yes randy subs can move this mkt!

i bought today

We might be able to get a better entry. Moving back down a little now.

OILU/OILD dying too.

UWT/DWT liquidated. wouldnt buy.

Why wouldn’t the trade still be open? The suggested stop of 126.51 hasn’t been hit yet.

Thanks

Any chance we pull back for a better entry?