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This is exactly what I thought. I've been out all day (Graduations), and I found out the market is in the RED, I figured my FAZ calls will be in some good money , only to find out that I'm actually down a small bit. Crazy day for FAZ/FAS!!

You ain't gotta say it twice, I'm kicking myself now

You know I've been staring at that set up for an hour, I don't know how it's gonna breakout...

I guess they wanna play straight. If they said 5 years instead, we could have seen dow 10000 in a week.

It's not as crazy here in the futures world. Its bad news, but you know how they always get spun as "better than expected". The FED is basically just backing up on the green shoots craze.

Goodluck to ya, Buddy!

lol, it was a joke. I wouldn't buy FAS with Scot's money

if you like FAS @ 9.90, you gotta love it @ 9.30

Then buy it if you're convinced, but be careful about your daytrades though. I share Ivanovich's mentality...I just can't confidently trade this market to the upside given that I really don't believe this rally. I'm still very much short biased and its working so far on the futures front...

Why are you trading the technicals on an ETF, especially a 3x ETF? If the technicals don't look good for the underlying banks, it will end up going down. Do you see Banks rallying again tomorrow? I don't think you'll lose money on the FAS for an overnight hold, but I just don't think it's...

Depends on how we close. If we get a bearish close, I'll probably hold it overnight

You may make money on it. Sellers just aren't coming in right now.

smart money may have a point, the futures are currently doing synchronized diving

It looks like a consolidation before a significant move. I think this thing wants to go up, atleast the S&P wants be above 900 for now. That's just the setup I'm seeing now. Disclosure: I'm flat at the moment but short biased

If the daytrading restriction is being an issue, you might want to consider trading futures. I trade mostly futures, so I can tell you it can be risky, but If you can master it, you'll enjoy the reward.

Hope you got out earlier

In addition to what Haroki said, make sure you know what you did wrong and therefore not do it again. Everybody makes bad trading calls, but not learning from those calls will eventually get your account to ZERO. You're a smart guy, so just keep a sharp memory of the bad calls, figure out the...

Yea Like 9.00 would have made a nice entry. But brilliant strategy nonetheless

Good Luck. I got out of my short for a small gain a while back. In the mean time, I'm daydreaming about being as good as Deron Williams at my crossover move.

Did your resistance get punctured?