FAS/FAZ for New Week 4/27

I am out at 7.93...held for as long as I could without risking more money. If the market rallies, I enter FAZ for weekend, otherwise I am out because we are already hit support levels this morning. Doesn't mean it can't go down further, but I am not risking a long position on either FAS or FAZ on it. If the market tanks, I am going to have the FAS trigger ready to pull early monday morning and just watch to see what happens before I pull it.
 
Take a look at March 27, a Friday at 3:30
-- similiar to today - for a long entry into FAZ.
If we repeat 3/27 - we will go up the FAZ until Monday, after 1PM.
Sometimes, I re-play recent history
 
Picked up an SRS Jun 25 call when it hit below 23 the other day... looking to be very profitable.

Also guys, check out BBBY. Bought a Jun 29 put. Might be a good play.
 
Quote from dearinfinity:

Picked up an SRS Jun 25 call when it hit below 23 the other day... looking to be very profitable.

Also guys, check out BBBY. Bought a Jun 29 put. Might be a good play.
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I wish I could play Options like you...but I just can't seem to master it just yet
 
Quote from Eko_Trader:

I wish I could play Options like you...but I just can't seem to master it just yet
More...

It is not that tough to learn basic speculation using Options. Start from here

http://www.optionseducation.org/

Periodically check the option data here (or yahoo finance); See how different strikes are priced and how do they change with time?

http://moneycentral.msn.com/investor/options/default.asp?Symbol=BBBY

The symbol for June 09 BBBY 29 PUT is .BHQQR

And see changes in the option pricing at http://www.prophet.net (the only place I know with free historical options chart).

Play with it OptionsOracle; get it here - http://www.samoasky.com/

Also consider buying some book. http://blog.mdwoptions.com/options_for_rookies/

It's not easier to trade using options but you can sleep better if you have speculated using options.

Risk management is the key point in options world. It is easy to make 100% on your investment in few days but it is equally easy to lose 90% of your investment if your prediction is wrong.

Also, high commission, high bid-ask spread and time decay will work against you. So be careful.
 
Man that close to the day is weird. FAS down, but market up. Dow, S&P and Nasdaq all closed with highest highs, yet FAS closed down. That's an indecisive close. I am temped to put in on FAS as much as FAZ. FAS is at a good low price, yet with the market closing up, FAZ should be a safe bet for a weekend hold, but not sure about that.

I think the safest bet is to stay out of the market and check the monday morning extended hours market.
 
Quote from salp:

Take a look at March 27, a Friday at 3:30
-- similiar to today - for a long entry into FAZ.
If we repeat 3/27 - we will go up the FAZ until Monday, after 1PM.
Sometimes, I re-play recent history
More...

The difference is that the market also has a similar pattern, today the market and the financials went their separate ways at the end of the day.

What will this mean on Monday? I don't know, Market pressure to drop since market didn't close near support, but closed high...However financials did close at or below support lines.

Wow, how to read that?
 
Quote from scot.mcpherson:

Man that close to the day is weird. FAS down, but market up. Dow, S&P and Nasdaq all closed with highest highs, yet FAS closed down.
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Hope you know it already that FAS/FAZ tracks to RIFIN :-) Since I don't get any volume info with RIFIN, I usually track XLF for FAS/FAZ.

http://www.google.com/finance?q=INDEXAMEX:RIFIN.X

Financial sector was down today (-0.13%); most likely because of "Chrysler Bankruptcy" and "Delay in Stress Test"...
 
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