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I think the better way to put it is that most successful trader's hardly talk about their PnL. I am familiar with this firsthand, because the firm I was connected with actually emphasizes not looking at your PnL, just trade well, and the green will show up. They also hire psychologists to help...

I'm still wondering why this market wasn't killed today. We just forgot about the stress test. I'm sure analysts worked on the Fed's release all weekend, but yet I can't hear anything about it

That's a compelling reason to go short. I'm all in short!!! On a serious note. You have to respect the price action today. The bears could have killed this puppy today, but they haven't, and that makes me wonder. I think the sell off will manifest after earnings. The upside volume today...

I second this opinion. You don't have to trade everyday. It can be frustrating, but a wise trader is the trader who learns to back away. Please, DO NOT BE A HERO, and ALWAYS RESPECT PRICE ACTIONS. If you think the market is wrong for going in a certain direction, just wait till you find...

Just about the best advice you'll ever get. Good work, Jaytrade Do Not get Greedy, the market will cut your head off. Always know why you're placing a trade. If you're trading on gut feelings, you'll be better off in Vegas

I second that notion. I just don't think I have the stomach for that thing over the weekend.

There should be a reversal soon. It's near overbought

Me and you both. I will definitely be loading up if it ever gets a 6 handle.

WE'VE GOT IT...Now what? anyone still feel like old FAZ over the nice sunny weekend?

The same is happening with /TF, they are selling it at 476 and up. But it's on low volume, and range bound for now.

My bad, buddy. I thought you commented on Port's prophecy thread. It's an OK read with pretty charts.

Im having the same mindset. I think when this stress test paper comes out at 2pm, we may get a spike and then a selloff into monday. But the faz's strong downward trend is painful to stomach.

You, Scot, Haroki, & myself should prolly lay off Port. I think he may have learned his lesson...but who knows. I sure hope he's not just jumping against this thing but rather reevaluating his positions.

Im looking at it too. What do you think about the low volume today? I'm not sure if the low volume will come in favor of the downside and sell into the weekend.

Yes you can say purely timed. But I broke my own rule....I jumped... and I got tatooed.

Rape indeed. The RSI has been relatively efficient for me on an intraday basis for both the FAS/FAZ and just about anything else. But the stress test hanging over the market, I would like to stay clear of this puppy. I think good news may have been priced in...I mean, we've had a 6 wk run. If...

I embarrassed to say I actually bought FAZ at 13 and I took a serious whooping on that. I bought because I thought the bulls were done and we're ready to retrace. I WAS WRONG!!!

I'm having the same problem. That's why I was telling Port at the other thread not to jump the Gun. I don't like trading on Fridays and it seems like that tradition may continue if the market does not make up its mind today. Either way...it's a good day for brokers, they benefit from choppy...

Jumping early again. If you're gonna call a breakout on TZA, it would have to, at the very least, break 39 convincingly. The S&P is also holding that 830 level, and unless we break it, I would be cautious on holding any 3x inverse overnight. The Bulls will take that as a reason to Bid like its...

I absolutely agree with you. He has good charts, but he seems to be jumping early...which is more gambling than efficient trading. I am bearish short term, but I'd rather wait to see if today's price action shapes up with the charts. I know the bulls won't just roll over and take it.