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Fas/faz - 5/4
- Thread starter scot.mcpherson
- Start date
Plus I am making my "prediction" based on the daily charts. Yes it could be a home run day, but the recent average market down day on the daily charts have a similar angle to what we have right now. Same thing with the RIFIN and same thing with FAS and same thing with FAZ, today's daily charts already look like the daily charts of other recent market daily charts for down days.
As I said I could be wrong, but I would prefer to be wrong with a profit, then wrong with a loss.
As I said I could be wrong, but I would prefer to be wrong with a profit, then wrong with a loss.
Quote from Haroki:
Plus, you held overnight, correct?
So it didn't cost you a dt to get out near the high, and can re-enter if FAZ starts going up again.
Good strategy.
Ya I held it overnight from 6.31 less than a minute before the closing bell.
The market still looks like its creeping closer to previous close.
This market is NUTS. JPM, the only bank that probably doesn't need to raise capital is trading down for the day. Citi...the one bank that probably needs a world of capital is up 5% on the day.
What in the world am I missing?
What in the world am I missing?
Quote from Eko_Trader:
This market is NUTS. JPM, the only bank that probably doesn't need to raise capital is trading down for the day. Citi...the one bank that probably needs a world of capital is up 5% on the day.
What in the world am I missing?
This is what I think is happening. Monday we were supposed to have had the Stress Test results, but they were delayed. The delay was good news BECAUSE the bad news (the stress test announcement) was specifically not reported (not that the results are bad news, but ANY government announcement generally causes a downturn in the current market. I think the market is going to continue to climb slowly through the week, especially financials because people are expecting good news at the end of the week and want to cash out. So they are buying it up, hoping for a boost by the announcement on friday and hope to sell out on the whipsaw up swings.
I think the stocks that make up the stress test are going to climb, and I think most of those make up a fair share of the FAS.
As always I could be wrong, but that's what I think is going on.
Quote from scot.mcpherson:
This is what I think is happening. Monday we were supposed to have had the Stress Test results, but they were delayed. The delay was good news BECAUSE the bad news (the stress test announcement) was specifically not reported (not that the results are bad news, but ANY government announcement generally causes a downturn in the current market. I think the market is going to continue to climb slowly through the week, especially financials because people are expecting good news at the end of the week and want to cash out. So they are buying it up, hoping for a boost by the announcement on friday and hope to sell out on the whipsaw up swings.
I think the stocks that make up the stress test are going to climb, and I think most of those make up a fair share of the FAS.
As always I could be wrong, but that's what I think is going on.
I hear you. I picked up some Jun 9 (9) contracts of FAZ at 1.00, I can't imagine another month of straight up moves. But that's just me...
such a lame market today...frustrating