Fas/faz - 5/4

Quote from Haroki:

Yeah!!

It's a small size though, cuz this is purely speculating that the "market" and financials will "sell the news" later today.

AND...I really don't do options. But I'm interested in starting to use them for longer term market direction calls that limit my downside.

I'l prolly get ripped for this from an options trader, but I'm regarding options as a leveraged stock long/short that has a really big bid/ask spread.

But jeeze, it's up 90%....
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I'm warming up to them too...and I'm thinking short term and long tterm. Since I swing trade too, I can use them as a nice insurance
 
Quote from 426653478:

What an awesome bull market

and I'm still holding on to my losing positions; short FAS and long FAZ :D

actually just bought more FAZ @ 5.15
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and I bought even more this morning at 4.72

where is this FAZ going, back to 8$?
 
Well, I put in an ask price of 30 cents and it hit just before this downturn.

Good enough.

No overnighterz for me with this news.
 
Ya I stayed out completely as well after I dumped FAS. If I had had a day trade, I would have bought onto FAZ when it was clear it was falling, but I didn't want to risk an overight with it. I think FAS will open higher than today's close, but not going to gamble on it.

I am going to wait for the market to reset.
 
FAZ hit a 2 day DT here today.

I'm very neutral here now. I was of a mind earlier that it would just head up all day long, but FAZ hit that point and stalled. That's when I put in my sell order @ 30 cents.

I'll be sitting on my hands for a while in the am, I suspect, while I wait for a good signal about some market direction.
 
Quote from scot.mcpherson:

Ya I stayed out completely as well after I dumped FAS. If I had had a day trade, I would have bought onto FAZ when it was clear it was falling, but I didn't want to risk an overight with it. I think FAS will open higher than today's close, but not going to gamble on it.

I am going to wait for the market to reset.
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In case it wasn't clear, I meant FAZ climbing/Market Falling.
 
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