Jeff, what did you price your eev?

What does the MSCI Emerging Markets index actually hold? The price vol seems to be wild

nevermind I found it -

For anybody else...

http://www.proshares.com/funds/eev.html?Index

nice pick up hammy

What are you hoping to sell it at and when?

Yesterday hurt those of us who are holding from around 90.

Now that the Dow is around 9400 again, EEV only made it back to 82...whereas it was at around 87-89 before (when the dow was at 9400).

bought eev for $78.30 premarket and dug for $35 around 9am. Had another order for eev at $76.50, but it didn't fill. I thought I paid too much for eev premarket and it's wierd that my $76.50 didn't fill during the snapback rally after the opening. Well, we got action so let's see what happens.

I don't have a target sell price or time. It depends on the market. Right now with the market in my favor there is an equal chance that I'll buy more rather than sell what have. But again, everything is subject to change as this is gambling not investing.

I bought a chunk at $76 yesterday. I think I'll hold it for a while as I think there is more upside.

Anybody think differently?

clay - first eev isn't a mirror of the dow, though it trends the inverse to some degree. Second when the Dow was around 9400 on Monday eev was $84. I think you're thinking of the close, but the dow was 9319 and eev was $88. If the dow falls another 100 eev will rise above $85, maybe even back to $88. But again tje dow and eev are not direct to each other. eev could go to 200 and the dow only fall to 8200.

Jeff, duly noted. I know the relationship is not direct, but it does trace inversely to some degree.

Looks like you timed this perfectly, Jeff.

I suspect Asian markets will tumble tomorrow if this drop continues today.

Wish I would have jumped in late yesterday afternoon rather than this morning, but I'll take what I can get.

So does the down day we're having carry into the emerging markets overnight?

I would think that it will spill over.

It would be interesting to correlate the DOW performance with how each of the emerging markets perform.

My guess would be that they follow, just more radically higher or lower.

It's such a chicken or the egg scenario....you could wake up to news that the overseas markets tanked, but then the Dow helps recover the global effort for the day, or you could read the Dow tanked and then the global markets picked up the slack overnight into the next morning.

sold at $92

Jeff, I admire that trade!

Almost perfectly timed entry and exit, Jeff.

That's what she said.

Yeah and I still ended up getting her pregnant.

Did you sell DUG in the mid-37's? Or are you still holding through tomorrow?

order is in. We'll see if it executes after hours.

dug sold
back on the bench for me

Ok EEV holders, as of 7:30 pm Wednesday, we have:

Asian Markets tanking:
Korea down 5% http://eng.krx.co.kr/mki/ids/ids_l_001.jsp
Japan down 5% http://finance.yahoo.com/q?s=^N225&d=t
Taiwan down 5.5% http://finance.yahoo.com/q?s=^twii&d=t
Singapore down 4.5% http://finance.yahoo.com/q?s=^STI&d=t

plus some bad news and cuts in profit outlook for asia http://www.bloomberg.com/apps/news?pid=20601087&sid=afItpL7_cf9o&refer=home

Hopefully for those on EEV and DUG, the US futures will continue to drop (they are down moderately) http://www.bloomberg.com/index_americas.html

Tomorrow is setting up for market shorts to do well, but who knows... last night, all of the Asian stocks were up about 5%. Food for thought.

Just to add, China is up just over 3% (edit: it is now down 3%)http://finance.yahoo.com/q?s=^SSEC&d=t



[This message has been edited by Tabasco (edited 11/5/2008 8:03p).]

tab - that up 3% was yesterday. China is down 52 pts, over 3% right now. Thanks for scareing me!

Europe is supposed to cut interest rates overnight, hope that doesn't effect the emerging markets for tonight.

Sorry, looks like China just opened. I assumed the link was current, since they are farther West, but the link just refreshed over to current. I did find it strange that it was up. Good news for all (of us shorts)

I can only half celebrate market drops....as the other half of my holdings want the market to go back up.

Let it tank hard, drop eev towards the bottom, then let your longs recover.

Can someone explain why if EEM and EEV are essentially opposite position on similar markets (1 ultra and 1 not), then why don't the values of both move oppositely in the past year? EEV, while short is much more volatile.

Korea: -7.56%
Japan: -6.53%
Taiwan: -5.71%
Singapore: -4.34%
China: -2.78%

India: Down, not exactly sure which index to use for percentage. http://www.bseindia.com/
Malaysia: Same as India http://www.klse.com.my/website/bm/

Dow Futures: -0.88%

anyone playing this today

I'm still in from yesterday, I anticipate it's going to open on an up tick.