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Oh I guess your futures or options or whatever use a differnet pricing system. I thought you were saying you bought at 4.40pts, I misuderstood.

Yes, but listen carefully please....FAZ trends down over the long term no matter the market action. If it looses value hard, it doesn't ever get it all back, so make sure you have a good price and get out quickly while the getting is good. That character could change, but I don't see it yet.

Well looks like you are in 12 cents profit at the moment now :), I am still in the hole, but the hole is getting smaller now.

Start thinking about overnight holds closer to the end of the day. We still have 2 hours left and a lot can happen. Volume indicates that neither FAS or FAZ are priced right.

Yeah but that's where the "and climbing" part comes in. It might not be an arrow hitting the target, but it's climbing steadily. Much to my chagrin I might add.

up almost 3% and climbing is not sideways

It depends, the quick and easy answer is No, however the long answer no trade is any different really than another. It's all about what you think is going to happen. Do I have the best position right now? No, but I am already here, so do I want to sell the low? It "looks" like FAZ has hit...

A new week. FAZ gapped down for me over the weekend. The Dow Jones gapped up to 8600 ? What the hell is that? I am just going to hold FAZ for today believing it will start to climb here soon after the morning weirdness is over.

When FAS closes up hard like that, FAZ "usually" will be gapping up the next morning...in this case because it's a weekend, the gap can be better. Nothing guaranteed, and the thing is I trade mostly on instinct...which works pretty good until someone screws up my psychology like you guys or my...

I am in FAZ at 4.84 for an over the weekend hold.

at 15 minutes before the bell I am staying out.

Which do you guys think for an overnight hold tonight? FAS or FAZ?

Crap, I had to go to a meeting and so I put in a stop. I got stopped out of some nice returns in that quick dip to red territory. I would have gotten out on the way down if I were watching, but would have gotten back on board. Returned from the meeting stopped out and break-even but looking at...

I am in FAS at 8.87 for overnight.

I am really annoyed at myself

I need to stop chatting on here. You guys make me do stupid things sometimes (my fault)....I bailed on it at break even when things were looking to go downhill. I figured why give away $40? I should have just used my stop but the prediction about the auction messed me up....So I missed that ride...

Well the action itself would be a positive to the value of the DJIA, but I think it's a negative in public perception that the market index needs to be adjusted because a company is going into bankruptcy. Either way, my stop is currently at 4.86, which makes it roughly a $40 loss...not too...

Looks to me like the news about GM being removed from teh Dow Jones Industrial Average is what tipped the market over.

The noise on FAZ looks fairly small so I immediately put in a 10 cent trailing stop. I don't want to get burned too bad. I'll ride it out until it stops out.

well I am in FAZ now for 4.90