You gotta love this market...Whoa!! Buy it all except the FAZ & Port's beloved TZA. Easter & Chritmas has been priced into this securities. But from what I'm seeing, this puppy is overbought. I will be surprised if we close strong to the upside...very surprised.
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Fas/faz - 5/4
- Thread starter scot.mcpherson
- Start date
less than an hour left to see.
Quote from Eko_Trader:
You gotta love this market...Whoa!! Buy it all except the FAZ & Port's beloved TZA. Easter & Chritmas has been priced into this securities. But from what I'm seeing, this puppy is overbought. I will be surprised if we close strong to the upside...very surprised.
Exactly.
I took a long (FAS) when they both broke my aforementioned LH. Made 4% off that.
But even though FAS/XLF/UYG are up huge......."the market"..... not so much. Sounds like no ones buyin' it in other sectors.
Quote from zdreg:
can someone please explain why faz and fas aredown 18% and up 20% respectively on a mildly up day?
thanks.
http://www.direxionshares.com/etf/fbu_3x_shares.html
FAS: Financial Bull 3x
if banks like BAC, C, WFC are up 15% what do you expect FAS to be?
Quote from zdreg:
can someone please explain why faz and fas aredown 18% and up 20% respectively on a mildly up day?
thanks.
Sure, RIFIN is up approximately 7%....The market is in a strong bull rally, and the banks are hot.
I predict that tomorrow RIFIN with either be up, down or sideways. I am leaning toward up though.
Bank Stocks and ETFs Encompass 41% Of Today's NYSE Volume
Themis Trading's Joe Saluzzi notes that Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC), JP Morgan (NYSE: JPM) and the financial ETFs (NYSE: FAZ), (NYSE: FAS), (NYSE: XLF) represented 41% of the NYSE composite volume today. 3.3 billion out of 8 billion shares traded.
Joe says, "All momentum and day traders", they "Busted the shorts today."
Themis Trading's Joe Saluzzi notes that Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC), JP Morgan (NYSE: JPM) and the financial ETFs (NYSE: FAZ), (NYSE: FAS), (NYSE: XLF) represented 41% of the NYSE composite volume today. 3.3 billion out of 8 billion shares traded.
Joe says, "All momentum and day traders", they "Busted the shorts today."