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Yeah, I thought about that, but wanted to get something real cheap. Like right now, the bid's @ .27, up 12 cents from my buy. Doesn't take much to make a big % gain. You can just about stumble into a good gain from this level.

Yeah!! It's a small size though, cuz this is purely speculating that the "market" and financials will "sell the news" later today. AND...I really don't do options. But I'm interested in starting to use them for longer term market direction calls that limit my downside. I'l prolly get...

What do you consider divergence? FAS/ES were both making LH,LL. No divergence there. But ES was down while FAS was still up. That's not really divergence, I think, but just financials doing better than "the market". I look for divergence/convergence in the DIRECTION that they're moving...

Huh? It's down 10% since the open....

Ha ha! Hey, you caught me leaving out info. FAZ 7.50. But you figgered it out....

Well, I decided to get my feet wet in options and bought 25 - May 7.50 calls for 15 cents. There were some huuuge moves in options over the last 3 days. FAS $10-12 calls saw ~ 200% moves. If I'm not reading this right, so be it. It ain't much to risk.

And for a little different flavor - Andres Segovia. http://www.youtube.com/watch?v=2eBnfzngq9Y

Exactly. I took a long (FAS) when they both broke my aforementioned LH. Made 4% off that. But even though FAS/XLF/UYG are up huge......."the market"..... not so much. Sounds like no ones buyin' it in other sectors.

Sounds like one of Port's winners. :D

Blowin' day trades then with early entries? ES and FAS both just made LH on the long term chart.

These on paper, right?

And XLF solidly in the middle.

Mid term chart also shows HL,HH.

I'm long (FAS) biased right now cuz we had a HH,HL on the long term, and about a 50% retrace to the previous low.

It looks like it'll go up. But the midday doldrums laetly has me sitting on my hands right now, rather than sitting through 3 hrs of sideways, rangebound bullshit. I'll wait a little. Already bagged 3%, so it wouldn't be a bad day if I did nothing more. Although I may be missing out here...

Gay test:

Didn't last. Out at 6.00. 3%

Not any more. "The market" won that one. I got in FAZ @5.82

Some divergence here. ES made a LH,LL. FAS made a HH,HL. Who wins? :D

No kidding. I just got tired of watching it, and decided to bail on absolutely zero reasoning. And now it surges. Pure luck. Oh yeah, it's afternoon, so Glenfiddich, not BM.