RE:RE:Details of my conversation with management today....Re: edmed and your purchase of nugt
It's none of my business edmed and I wish you nothing but success on your purchase but I urge you to do some due diligence on the effect of erosion on these leveraged etf's. Using historical price levels to gauge where this thing was and where in your mind it should be is hazardous to your financial health. Daily rebalancing forces you to be right on direction and time. If you get stuck holding this for longer than you intended, you will most likely lose money even in a flat market. I learned the hard way playing one of these on natural gas when it dipped below 2. The price rose as everyone knew it had to and I lost my shirt. Nugt is great to express a bullish viewpoint over a few days or maybe a few weeks but not much more. In my opinion anyways for what's it's worth.
and thanks to tony for sharing......
Zad