FAS/FAZ for New Week 4/27

Quote from S2007S:

Sold every bit of FAS I have at 8.82.


Totally OVERBOUGHT...


LONG FAZ.


:D
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I'm with you...so far out of its channel that it is somewhat humorous. It'll dive back absolutely no later than Friday afternoon for sure.
 
I think we'll be seeing something special, it could possibly be the capitulation to the upside. I have no doubt that the market is rly overbought
 
Quote from Smart Money:

I'm with you...so far out of its channel that it is somewhat humorous. It'll dive back absolutely no later than Friday afternoon for sure.
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The financials are exhausted at this point, with talks of Chrysler going bankrupt this alone could sink the financials 10-20% over the next week or 2.


As for FAS, im waiting ever so patiently for something under $6.00.
 
Quote from Eko_Trader:

I think we'll be seeing something special, it could possibly be the capitulation to the upside. I have no doubt that the market is rly overbought
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We have seen capitulation to the upside with the indexes up almost 30% in only 7 weeks.


Nothing has changed, the only thing keeping the markets from completely collapsing is the printing press working overtime to keep the entire global economy afloat. We are in a severe recession entering what I believe to be a depression soon, you CANNOT print your way out of a credit crisis.
 
Volume really climbing. Could be the turn, but I get my data off of internet sources as I am a swing trader, so I'm not sure how it compares.

Looks like the S&P is hitting a ceiling at 886. Is that a relevant resistance level?

edit: I mispoke earlier and said the ceiling was at 888, it is more like 886 now that I've had my coffee.

SM
 
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what is the difference in the percentage of change indicative of (FAS has increased 12% while FAZ has dropped 13% over the same period)? Is it because of decay?
 
Quote from Smart Money:

I'm with you...so far out of its channel that it is somewhat humorous. It'll dive back absolutely no later than Friday afternoon for sure.
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What channel are you looking at?
 

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