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I'm leveraged into both FAZ and FAS options with a SLIGHT bias towards FAZ, but that reversal really killed me because I releveraged heavier into FAZ only to have FAS bounce from 7.83 to 8.70... Monday my wire is going through so I'll have more than just a joke sum to play with, but still...

Nastyy reversal. Don't know what acid the market tripped today

God these 3x ETFs are incredible, so volatile...look at some of those candles in the last 5 minutes. Unreal.

haha yeah I'm now down 8% on my 800$ because of that little reversal.

Possibly a nasty little reversal in effect.. just shorted FAS & long FAZ

Scot, didn't they tell you? The bull market is back! No, really though, lately it's become considerably more painful trying to bet against the U.S. gov't. It is very well possible that the market could react very positively to these stress test results. Most big money I think is sitting out...

@Scott: Yeah you're absolutely right man--fas & faz just converged, will probably stay strong into close but I'm definitely staying liquid, or possibly FAZ biased by the end. @Dodge: it's going to be released after the bell buddy.

Yeah I hear you. Sold some more FAZ VERT calls. FAS just broke 8.36

@Port, how do you like that TZA position? Note: FAS has key resistance @ 8.35. If it can break this, who knows.. market is choppy but I am apathetic. FAZ is making lower lows fellas, I'd be careful. After the bell... "United States : Speech Released For 4/24/2009 4:30:00 PM...

Very interesting to watch the LEVEL IIs to see the QUANTs @ work. Some huge blocks of 25,000 moving around here.

Just bought some higher delta FAS calls & sold some FAZ calls.

I just sold some FAS calls when it failed to break resistance @ the 8.06 region.

Looks like you got stopped out. Market is really ADD today, I'm waiting on FAZ/FAS to show real direction.

I'm not playing FAS until it breaks through 8.19, and I'm not playing FAZ till it either drops below 8.60, or pumps through 9.18. Otherwise the market noise will literally rape you.

Market looking again very ADD...

I'm taking my FAS options profits at open, and then will play it as the pattern becomes evident. Hopefully today isn't as noisy / choppy as yesterday though. Wonder why F is up so much pre? Also, what's happening @ 2:00?

Don't spend your TZA loss all in one place!

Yeah, I hear you dude. Scott: I highly recommend reading about options on the internet. Despite this damn market today being choppy as a mother f*cker, I managed to pull in $101.50 with only $643.50 actually in play. I made 8 options trades though, which cost me about $20 in commission. So...

Enjoy giving me your money bro.

I'm in the same boat as you, <25K in my account. The way I get around it though, is trading options. You can't go balls in all at once though or else you won't be able to cover, etc, but you can slowly buy and sell opposite calls (ie on FAZ, and hedge with FAS, vice-versa as well) in order to...