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New thread 5/18

I am still in cash looking at what I missed out on...but better safe than sorry.

See but now we are stuck here, hovering at 9.67 or whatever...This is why I didn't get in yet. I also don't think anything is smelly, we are back within the channel that has been developing since march 6th, the two weirdo peak weeks aside.

Well the market is irrational

Well, FAS is near it's previous support levels before the crazy high week during the stress test announcements, so I think we'll see the previous steady bull market we saw before then, but I am uncertain. If FAS had opened lower, I would have bought it. Starting out this high is a good sign...

If I understand correctly, when you have "pared gains" it is because you have holdings in various sectors, some winning some lossing, but overall your portfolio is ahead. You gain's have been pared by your losses. Pared losses would be the same, scenario but switch it to overall loss. Another...

Actually Direxion was considering a reverse split of some of its ETFs a couple months ago, and FAS below 2.50 on march 6th reinforced it, however the big bull changed their minds, at least for right now. Some people do hold FAS for a while. My couson got it at $4 and recently sold it around...

Well I wasn't expecting FAS to open high this morning. I am staying out for now, but I wonder if anyone held either etf over the weekend and what they are looking for in this week's market.

did fas just bounce? I wonder, waiting

Well honestly, I want to stay in a very liquid position, so I wouldn't have anything to do with something that illiquid. Nice thing is that the volume is so low on some of those stocks you can set your exit price and just wait for someone to take the bait, but that's risky. I like using...

Bad news always means down....good news only sometimes means up...no news means nothing at all.

ahh well my broker requires $10k, a lot more than I have right now. Perhaps in the future.

from what I understand the day trading limitations still apply

Ya it popped bakc up nicely, so I am happy to hold it. Not a sharp upturn, just back to its baseline high for the end of the day, that tells me it's going to gap up tomorrow if there is no bad news tonight.

yeah, I literally looked away for a moment...no joke... and it was down to 9.08 or something like that. I can't remember the actual price, but I said Holy Shit!!! I am still holding it though, and intend to hold it overnight. Tomorrow is friday so unless some bad news occurs tonight, I am hoping...

You know what else I need to do? I need to stop daytrading altogether...I have made a rule to not enter a position without having one daytrade left, but I need to curb that even more. I need to let them accumulate so that I don't have that pressure to hold on "just a little longer". If something...

That's cause the recent down turn, there are still people jumping onto FAZ, and there are others trying to jump ship. And there are other's who got out, and then got back on this afternoon. FAZ was heaviy traded this week. It's a boat that I missed because I didn't think it was going to happen...

It dove, I hope you got off soon enough for your comfort.

Ya, people don't seem to trust it much, the volume is very low...

I try to, and as you can read I tried to incorporate at least one lesson I learned into the story, what's frustrating is that even after I learned that particular lesson, it still bit me in the butt. Patience being the one I am talking about, even when I practiced more patience, the market still...