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If FAS can break 7.41 or so with some conviction, it'd be a good entry point.

Looks to be another choppy as hell day. Sold some calls on FAZ but I will cover it breaks out at 10.20. Otherwise I will wait for FAS to break out of 7.40 before buying calls. What are your guys strats for today? Sit it out? Way too choppy...ADD market.

Lol dude... TZA is in a DOWNWARD trend right now. Making LH & LL.

LOL getting defensive are we? Dude, every call you make you should technically have a 50% chance of landing. As in, I could ask my four year old nephew "Dude, tomorrow, is it going to be an up day? Or what do you think little man, a down day?" He should, like you, have a 50% chance of getting...

You are misreading what I said as a statement of ignorance rather than humility and practicality. Stop with the hubris and practice what you preach--or maybe it's best if you didn't.

The very fact that you just "place your bets" is exactly the reason I would never listen to you.

His charts aren't bad, what is bad is his style of trading and his personality. Essentially, he is just as able as the rest of us to predict what will "happen tomorrow" aka we have a 50% chance of being right. His problem is not his charts--which I find worthwhile to have a look at--but rather...

Two people will look at the same chart and interpret it very differently. No one is looking for another gap up to 13, but go examine volumes and momentum upon closes. I expect FAZ to probably open higher and spike briefly in the morning at which point I will get out until the trend confirms itself.

Yeah--annoying, I just BARELY got stopped out of FAZ at 8.90 or so, but then got back in when it broke 9.40. Check this out: I've found that this past week the direction of momentum into the close has always been very indicative of the future performance of this ETF. I'm usually very...

I'm also in FAZ @ 9.45 or so

Market is way too choppy, should've sat this one out I think. I'll exit FAZ if < 8.95

There you go buddy, keepin it real.

I'm in FAZ now.. DOW blowing out it's 200 (15min) MA

Hard to say man, I'm up 5% on the day but I play really conservatively. I figure with 6x (on margin), waiting a few % (ie, for it to blow out 8.35) in the scheme of things isn't that much because of the implications. There was a huge block of ~3000 @ 8.25 which will be pretty hard to knock out

highly unlikely. my plan is to get back into FAS if it can blow through 8.35 with moderate volume, or if RIFIN can blow out 587.

out @ 8.09

LOL.. was just about to post something similar. I'm relatively new here so I didn't know anything about this dude--luckily for me I trade based on charts, not whim.

In a bit of hurt? I'm back in FAS @ 7.85

I can't even begin to tell you how much I urge you not to hold these things overnight for your own sake... look at some of these gaps.

Question to both of you: Where is the logic in making these kinds of trades? Why are you trying to catch a falling knife? Why not just look @ how the market operates in the first hour or so of trading before opening a position on either side? Get a general feel, let the panic subside, and the...