FAS/FAZ for New Week 4/27

TraderSU · Apr 30, 2009

Quote from scot.mcpherson:

Too early to say whose holding faz, I'll let you know at 4pm

I am holding it now, but we'll see what happens in the last 45 minutes of the game.

I got stopped out yesterday but loaded another 100 FAZ @ 7.68 ; was thinking of dumping them out.

Haroki · Apr 30, 2009

Quote from Eko_Trader:

Nah I think the dump will be tomorrow. The easy money for the day were the sellers at 8300 on the dow.

EDIT: I'll be very careful on the short side if S&P closes above 875

Man, this was the golden post.

As soon as you made it, the market started tanking.......

Eko_Trader · Apr 30, 2009

Yea I'm liking the price action. There's virtually no bid for the market, but we'll see how we plays it into the close.

I wouldn't hold FAZ overnight tho.....the market likes to test the top just as much as it likes testing bottoms. I also don't see any bad news on the horizon for an excuse to sell.

Smart Money · Apr 30, 2009

Hey guys,

In the interest of disclosure I sold out. Made some nice coin. I think the inverse funds will do well again tomorrow, but it was debatable about waiting around, so I bolted. Hope ya'll made money.

SM

Haroki · Apr 30, 2009

Quote from Smart Money:

Hey guys,

In the interest of disclosure I sold out. Made some nice coin.

SM

Yeah, this is the great thing about the 3x'ers.

4-6%ers are available just about any day you look at it.

scot.mcpherson · Apr 30, 2009

I got out at 8.17, waited for the last minute, but the ups and downs were a good 20 cents, so I took it on the high of the 20 cents bounces, though it looks like I shoulda waited I am looking at 8.24 now.... lol

I am going to watch the AH market closely and the morning bell closely too. I think this is going to gap up

Haroki · Apr 30, 2009

Yeah, that close is about as clear as mud.

Glad I sold out for 5%.

TraderSU · Apr 30, 2009

Quote from scot.mcpherson:

I am going to watch the AH market closely and the morning bell closely too. I think this is going to gap up

Amen! FAZ closed green, SP500 closed red; So far it looks good.

So I'm holding it overnight. Sadly my trading platform does not support extended hours :-(

scot.mcpherson · Apr 30, 2009

if your trading platform doesn't, but you still want to see the play on a stock, check out google finance. It shows the AH market as an option.

TraderSU · Apr 30, 2009

Quote from scot.mcpherson:

if your trading platform doesn't, but you still want to see the play on a stock, check out google finance. It shows the AH market as an option.

Yeah, I do a quick scan for extended hours activities in the morning on Google finance.

FAZ/FAS play is lot easier if you have extended hour access. Guess I'm going to close my existing Sogo account and move to IB.