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Copious amounts of Bloody Marys will be consumed. I'm out of FAZ with a measely 1%.

Hijo de puta. No shit. All this lame midday volume is trying my paitence.

Yeah, but that's not really what I was talking about. I'm more interested in the ES staying below 900, and to a lesser extent DOW below its previous high of ~ 8420 ETA: Scot deleted his post - naughty....

Still holding FAZ - even right now. ES did a DT at 900, then a lower low. DOW broke down through 8400. Let's see if it holds, if not, I'm outterz.

Plus, you held overnight, correct? So it didn't cost you a dt to get out near the high, and can re-enter if FAZ starts going up again. Good strategy.

I bought FAS right after the open, and sold it 10 minutes later for 5% Then I waited a bit for the market to settle down, then bought FAZ @ 6.46. I'd like to see it go through the high right here. VIX and TRIN spiking up, so that's good.

Jeeze, some nice whipsaws here this morning...

To hell with that. Push them through the fence into Cuba, and let them handle it.

Hey, I was short with you there for a while. But I can run and take the reverse if want. Not to be pushy, but uncertain days like this is perfect for doing the 1/2 size/hold both sides strategy like I kinda laid out in last week's thread, and taking what you can, even if it's only 2-3...

I'm out before the EOD crash/craziness. That was worth 8%. Really 4% since it was a 1/2.

This why I look at XLF. It explains a lot. Flat top pennant is broken. You don't see that in FAS.

Looks like "they" want to see 900.

Ehhh... Still in with a 1/2 size. Doesn't look like an add anymore. Up 5%. So really 2 1/2%

Well, I reversed FAZ when I was up .02. Looks like a FAS day now, so again 1/2 size for now.

I think we're ok."FOR NOW". FAS/ES just fell into synch with LH's. VIX/TRIN up.

How does protecting the steel frame keep a building from being gutted? It does NOTHING to prevent a fire from spreading. It only keeps the STEEL from failing. And a local failure can lead to a total collapse, like we saw on 9/11. You just don't believe it due to personal incredulity...

Yes, a little mixed signals. But like I said, i watch both FAS and ES. and 75% of the time, if financials make a LH, then the markets going down, even if ES did something else. In this instance, ES made a HH, so I took a 1/2. If it would have made a DT or LH, then I would have gone full size.

chart

This is what i was looking for, and what i was trying to show with the black lines earlier.. A LH on the mid-term chart. With VIX and TRIN edging up again. So I took a 1/2 size in FAZ.

Yeah, I confused myself, since I'm still looking at FAS. I generally look at FAS, cuz I also watch ES, and so they "synch", and it's easier to see HH,LL when they're in unison, and see any divergences like ES making a HH, but FAS making a LH. Then, if I take a FAZ position, I switch to a FAZ...