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From people's experiences, do after hours trading and pre-market trading offer a good glimpse of what will happen during the market session? FAS is down a lot after hours...

Not bad Scot... such lack of movement today though on the whole market.

I think i'd buy FAS long if it drops to yesterday's open price... but for now, nothing seems to be happening so I'll stay in cash.

Yep just sold all FAS..... better to take a smaller hit than a bigger hit. I took everyone's advice and sold before I incurred bigger losses. Considering FAZ....

Alright I may close out my long FAS positions this morning and buy into FAZ... we'll see what happens after a couple of minutes of market opening.

Not a bad day at all today.... let's just see if it's sustainable. I expect some profit taking tomorrow, but since i'm in the red anyway i'm going to stay on FAS long until i get my money back at 12... if it ever gets there.

hahaha, that's definetly true Scot. Hey how do you feel about penny stocks? I have subscribed to a couple of those sites that email about penny stocks... I know that a lot of the times those are self-fulfilling prophecies, but I have noticed that at least one of those sites does indeed...

Based on what I see, FAS and FAZ are going to both be flat for the day... no major news, neither negative or positive. WHat do you all think?

Does anyone have a good recommendation for a book regarding day-trading? Obviously I would need something for a beginner.

Sounds like you are great at timing these funds Scot, good for you - im jealous!

That is an interesting thought... but what do you mean by "chop is crowding the naked shorts?

How fast do ETFs decay... specifically FAS? How can I check the decay factor?

What the hell!?!!?!? Pre-market on FAS is down 8%... This is so depressing. As soon as I make my money back at $12, i'm going to dump these shares... if it ever reaches $12.

By the way, does anyone feel strongrly about any other Direxion ETF out there in regards for tomorrow/rest of week?

That is great advice Scot, thanks a lot. I opened my Ameritrade account just to mess around, but it's grown on me like a bad habit. I'm utterly obsessed now and I think i'm not even focused at work as I used to anymore! What I really should do is pick up a good "day trading for dummies" book...

Man I suck at this... new to trading... bought FAS at 12 last Thursday... Friday was a good day, but yesterday and today have just been really painful. Maybe I should have let guys who know what they are doing play with 3x ETFs...