Fas/faz - 5/18
- Thread starter scot.mcpherson
- Start date
Then buy it if you're convinced, but be careful about your daytrades though.
I share Ivanovich's mentality...I just can't confidently trade this market to the upside given that I really don't believe this rally. I'm still very much short biased and its working so far on the futures front.
P.S. Keep in mind that FAS would have been down this morning if not for BAC's capital raise...And you didn't know that fact before you picked it for your overnight hold yesterday. Given also the market's behavior today, I fear this puppy is running out of steam.
If I were buying FAS to hold for a couple months, then I would be worried. I hold it for at most 5 business days, usually my trades are intraday or single overnight holds.
Besides, people were saying the same thing as you before it flew to $13 per share. Yes it came back down to previous channel, but there you go....
LOL, exactly.
I've had FAZ6 calls at .60, just 15 to keep me interested, and they're back to breakeven now.
I gonna double up here.
Big divergence between FAS and the ES. FAS made a LH and LL, and ES made a HH and *might* be on its way to a LL around 906. If that happens, I'll definitely add again to my FAZ calls.
Me I am still waiting for the entry point. I just keep looking at it wanting to enter, but it keeps getting better and better, so I am out. I prety much am not going to do FAZ for a while until I can get a handle on it. I have done really well with FAZ in the past, but it's a creepy position to hold FAZ when it's been declining for so so long now. It been one of those stocks that's good for day trading, and maybe a single overnight hold, but REALLY risky for anything longer.
At least with FAS (at the moment), if you find yourself in a loosing position you can wait it out for a couple days to get your money back...unless of course you are unlucky enough to buy it on one of the unusually high tops. Then it may take a bit longer if it all.
At least with FAS (at the moment), if you find yourself in a loosing position you can wait it out for a couple days to get your money back...unless of course you are unlucky enough to buy it on one of the unusually high tops. Then it may take a bit longer if it all.
if you like FAS @ 9.90, you gotta love it @ 9.30
Took a FAZ long on the 15 minute inside bar breakout at 1215. Entry 5.29, Stop 5.15. Strictly speaking I should be in at 5.25 but R1 was right above so I stretched the entry criteria above it.
lol, it was a joke. I wouldn't buy FAS with Scot's money
