Anybody else find the day choppy as hell? I'm starting to get really frustrated
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FAS/FAZ for New Week 4/27
- Thread starter scot.mcpherson
- Start date
ya I got in a while ago on FAS at 7.99, i'll bail if things look even slightly bad and loose $25 maybe, but otherwise I am hoping for a market rally the 2nd half of today and get out at the end of the day and position for the weekend (whatever that ends up being).
Quote from scot.mcpherson:
ya I got in a while ago on FAS at 7.99, i'll bail if things look even slightly bad and loose $25 maybe, but otherwise I am hoping for a market rally the 2nd half of today and get out at the end of the day and position for the weekend (whatever that ends up being).
Crap I hope ur wrong...I'm trying to get in on the opposite side of ur trade on the futures front. But it's too choppy for my comfort. It's definitely a dream day for brokers
One of the things I watch is SRS/URE.
They're a good check for what the finacials will do.
When they're in agreement, I feel pretty good.
I have them organize according to change after open %, and when they're both in unison, it seems to work well.
SRS is up MORE than FAZ right now.
And actually, URE/SRS has been more volatile than FAS/FAZ this past week. And it's a 2x ETF, rather than a 3x, so that says that financials are in the doldrums...
They're a good check for what the finacials will do.
When they're in agreement, I feel pretty good.
I have them organize according to change after open %, and when they're both in unison, it seems to work well.
SRS is up MORE than FAZ right now.
And actually, URE/SRS has been more volatile than FAS/FAZ this past week. And it's a 2x ETF, rather than a 3x, so that says that financials are in the doldrums...
I don't use other financial indexes to corroberate FAS/FAZ, I use the Dow, S&P, and NASDAQ Composite. Those three look like up, and for the last hour and a half, all the Lows have been high lows and the highs mostly Higher Highs. Although the financials can diverge for a while, the market usually makes them catch up sooner or later.
Friday has an UP bias, just a bias mind you, not a concrete pattern, but friday closes have a fairly strong upward bias.
Friday has an UP bias, just a bias mind you, not a concrete pattern, but friday closes have a fairly strong upward bias.
Plus if you look at the market charts since march 6th, you'll see they all agree that other than for a quick dip, we are at a support level right now.
Draw your charts for the three market indexes, and draw your lines. And do the same for FAS. FAS may decay, but it's been trending up along with the indexes.
Draw your charts for the three market indexes, and draw your lines. And do the same for FAS. FAS may decay, but it's been trending up along with the indexes.
Quote from scot.mcpherson:
ya I got in a while ago on FAS at 7.99, i'll bail if things look even slightly bad and loose $25 maybe, but otherwise I am hoping for a market rally the 2nd half of today and get out at the end of the day and position for the weekend (whatever that ends up being).
Seems like you're spot on.