KEEP PRESSING THE FAZ!!!
Fas/faz - 5/11
- Thread starter scot.mcpherson
- Start date
Anything can happen. Why try to predict?
Just trade what you see.
Just trade what you see.
Bad news always means down....good news only sometimes means up...no news means nothing at all.
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 suggest stocks that rise on a consistent basis. Of course I know you have to worry about closing the position, but assuming that they suggest a high-volume stock. What's the opinion?
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 suggest stocks that rise on a consistent basis. Of course I know you have to worry about closing the position, but assuming that they suggest a high-volume stock. What's the opinion?
Well honestly, I want to stay in a very liquid position, so I wouldn't have anything to do with something that illiquid. Nice thing is that the volume is so low on some of those stocks you can set your exit price and just wait for someone to take the bait, but that's risky.
I like using FAS/FAZ as a vehicle, or at least I enjoy trying to learn to use them successfully as a vehicle. So far I have only been able to hover around break even, but I haven't burned out my account, so I guess that's positive. I am learning like every other newcomer to trade.
did fas just bounce? I wonder, waiting
I took a FAZ long on the 0945 inside bar but was stopped out. Took a much better-looking FAZ inside bar long at 1045 which is working out.
Why keep pounding long on FAZ? Because my bias is long as long as price stays above yesterdays close.
I was hesitant to take the 0945 inside bar because it was so early in the day. Maybe that should just be a rule from now on.
Why keep pounding long on FAZ? Because my bias is long as long as price stays above yesterdays close.
I was hesitant to take the 0945 inside bar because it was so early in the day. Maybe that should just be a rule from now on.
Gotta disagree...After charting a while, IMHO, unless news is MAJOR, the market will do what the charts indicate that they should do and the press tries to rationalize market behavior. Once in a while, the press gets confused because good news comes out and the market tanks, or bad news comes out and the market goes up. This is because the news was tepid, and the market is following the chart. I think the trick is to just chart, play the chart, and pray that big news doesn't surprise you.
SM
What a sucky day.
Bought FAZ after it briefly went negative around 10:30. Was encouraged when VIX/TRIN kept going up.... but FAZ didn't keep up the pace. ES made LL than yesterday, but FAZ came no where NEAR a HH.
So I bailed with +5%. Right when Charlie Gasbagarino broke some news about banks paying back the TARP. I wish he woulda STFU.
On a day like today, i was hoping for one of those homerun days, and make 15% or so.
Not to be....
Bought FAZ after it briefly went negative around 10:30. Was encouraged when VIX/TRIN kept going up.... but FAZ didn't keep up the pace. ES made LL than yesterday, but FAZ came no where NEAR a HH.
So I bailed with +5%. Right when Charlie Gasbagarino broke some news about banks paying back the TARP. I wish he woulda STFU.
On a day like today, i was hoping for one of those homerun days, and make 15% or so.
Not to be....