Amazingly the Market indexes and RIFIN are trending upward. Yes there are deep dips, but the direction is an upward trend. I can't believe it. I am out of faz now though I don't want to be. I don't like walking down the middle of the road not knowing which side to be on. In the middle of the road you don't know which direction to go, and you can get hit by a car from either direction.
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Direxion Financial ETF - 6/1
- Thread starter scot.mcpherson
- Start date
Quote from scot.mcpherson:
I am still holding FAZ, I proably should have gotten rid of it at 4.85 or so, but I went to get a cup of coffee. I have a stop set at break even, hopefully I won't get stopped out of gains again like yesterday.
I don't wanna mess with your game plan, but 'll suggest you should hold it a little longer
I am actually considering entering a position on HZBBF. It's a very low volume ETF, but it looks like it's at the bottom of a valley right now with a potential to gain 20% through the week.
Because of the pecular effect of chop on FAZ, it scares me to hold it very long. If FAS goes up again, FAZ will drop further and gain less. It has continued thise way even dispite the fact I thought we reached a baseline on it, so obviously we haven't.
We entered May above 8.50, and lost all that value leading up to may 8th, when it went below 4.50. It came back to over 6, and then fell again...And through May (as well as since the beginning of time for these ETFs, each top is lower than the last top except on extraordinary bear days. When the bull comes back the FAZ loses more value than it gained.
Therefore the longer you hold the ETF and fail to reposition yourself occasionally, the higher the risk and guarantee that the next top you are hoping for won't exceed your entry position. Your profit potential goes down the longer you hold.
We entered May above 8.50, and lost all that value leading up to may 8th, when it went below 4.50. It came back to over 6, and then fell again...And through May (as well as since the beginning of time for these ETFs, each top is lower than the last top except on extraordinary bear days. When the bull comes back the FAZ loses more value than it gained.
Therefore the longer you hold the ETF and fail to reposition yourself occasionally, the higher the risk and guarantee that the next top you are hoping for won't exceed your entry position. Your profit potential goes down the longer you hold.
Ya I don't see a direction here. Other than the gap, and early morning buzz, it's plainly sideways in all the indexes. I might be giving up on spectacular winnings, but I am also missing out on some fantastic losses too.
Have you noticed that's how we started each day so far this week. We gap up and then punish daytraders all day long with ridiculous price action until the last half hour of the trade. we have moved 2 points in an hour on the R2K futures. That is plain torture
Quote from Eko_Trader:
Have you noticed that's how we started each day so far this week. We gap up and then punish daytraders all day long with ridiculous price action until the last half hour of the trade. we have moved 2 points in an hour on the R2K futures. That is plain torture
The problem is we are at the middle of the road. In the middle things can go either way. If the price was back in the 4.30s, I'd be all over it, but I am thinking of a top of maybe 5 or 5.25 if lucky. Is it worth it? Sure if the market dive bombs and FAZ hits 6, but am I going to risk my money right here in the middle of the road with FAZ? No...FAS I might, FAZ no...I need to feel better about it than I do right now. Might miss profits, but I am also missing the losses too.
what u talking about? it decays up and it decays down.
a few days of financial downside will decay it up real fast.
a few days of financial downside will decay it up real fast.
Quote from scot.mcpherson:
Because of the pecular effect of chop on FAZ, it scares me to hold it very long. If FAS goes up again, FAZ will drop further and gain less. It has continued thise way even dispite the fact I thought we reached a baseline on it, so obviously we haven't.
We entered May above 8.50, and lost all that value leading up to may 8th, when it went below 4.50. It came back to over 6, and then fell again...And through May (as well as since the beginning of time for these ETFs, each top is lower than the last top except on extraordinary bear days. When the bull comes back the FAZ loses more value than it gained.
Therefore the longer you hold the ETF and fail to reposition yourself occasionally, the higher the risk and guarantee that the next top you are hoping for won't exceed your entry position. Your profit potential goes down the longer you hold.
employment is key here, and lay offs downsizing are just barely getting started with no replacements for them no where in sight.
see all those GM, chrysler and ford job cuts along with everything else ? none of them will be replaced.
the domino effect is just barely getting started and the mechanism is DEAD STUCK.
see all those GM, chrysler and ford job cuts along with everything else ? none of them will be replaced.
the domino effect is just barely getting started and the mechanism is DEAD STUCK.