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Faz $8.65 Srs $26.60
- Thread starter JRworldwide
- Start date
Just bought some higher delta FAS calls & sold some FAZ calls.
Quote from dearinfinity:
Otherwise the market noise will literally rape you.
Yeah, these midday low volume periods are a killer. No real direction. Just range bound.
If you can day trade, it's ok, cuz FAS and FAZ make 4-6% moves through all this garbage, but I prefer to not do that.
I like the way you're doing options though to get around the PDT rule. I should look into this to eliminate the boredom, LOL...
Very interesting to watch the LEVEL IIs to see the QUANTs @ work. Some huge blocks of 25,000 moving around here.
Quote from scot.mcpherson:
I am not sure you are wrong, just poorly timed. If you look at the DOW over the last 3 months, it looks like its going to turn to a bear market. I can't say, and I don't have the experience to make a recommendation, but it "looks" that way to my untrained eyes.
Yes you can say purely timed. But I broke my own rule....I jumped... and I got tatooed.
Quote from Eko_Trader:
Yes you can say purely timed. But I broke my own rule....I jumped... and I got tatooed.
Don't feel bad, that's how I hve gotten killed everytime I got killed. Jumping the gun at entry and/or jumping the gun on the way out.
I am looking at FAZ right this moment for a weekend long position. It seems to be at a good price right now at 8.61, just not convinced yet that a down swing has occured in the market yet. Still at a "could be" moment for me.
Edit: Ahh just moments later, it looks like its not turning yet...
Quote from scot.mcpherson:
Don't feel bad, that's how I hve gotten killed everytime I got killed. Jumping the gun at entry and/or jumping the gun on the way out.
I am looking at FAZ right this moment for a weekend long position. It seems to be at a good price right now at 8.61, just not convinced yet that a down swing has occured in the market yet. Still at a "could be" moment for me.
Edit: Ahh just moments later, it looks like its not turning yet...
Im looking at it too. What do you think about the low volume today?
I'm not sure if the low volume will come in favor of the downside and sell into the weekend.
@Port, how do you like that TZA position?
Note: FAS has key resistance @ 8.35. If it can break this, who knows.. market is choppy but I am apathetic. FAZ is making lower lows fellas, I'd be careful.
After the bell...
"United States : Speech
Released For 4/24/2009 4:30:00 PM
Description
Treasury Secretary Tim Geithner holds press conference following the G7 Finance Ministers and Central Bank Governors meeting in Washington. "
Place your bets ladies and gents. I'll probably stay liquid over the weekend.
Note: FAS has key resistance @ 8.35. If it can break this, who knows.. market is choppy but I am apathetic. FAZ is making lower lows fellas, I'd be careful.
After the bell...
"United States : Speech
Released For 4/24/2009 4:30:00 PM
Description
Treasury Secretary Tim Geithner holds press conference following the G7 Finance Ministers and Central Bank Governors meeting in Washington. "
Place your bets ladies and gents. I'll probably stay liquid over the weekend.
just keep in mind that the volume on FAS doesn't reflect its value too much, a tiny bit but not much. The shares and or derivitives are already held by direxion and not actually being traded. The changing value of the ETF is based on its underlying assets which are already held.
Now having said that...demand for the ETF "CAN" have some effect. I can recall a few weeks ago when the DJIA, RIFIN, FAS and FAZ were all tracking up at the same time. FAZ less dramatically, but it was tracking up for a few hours along with the rest of the market due to buyers controlling the price.
Volume on FAS and FAZ will tell you what other people are thinking, but its not a true indicator of how hard FAS and FAZ are being pushed up or down, that's almost entirely based on its underlying assets.
I'd say the volume is telling me how unsure people are about where these etfs are going.
Volume was lower yesterday than it is today.
Now having said that...demand for the ETF "CAN" have some effect. I can recall a few weeks ago when the DJIA, RIFIN, FAS and FAZ were all tracking up at the same time. FAZ less dramatically, but it was tracking up for a few hours along with the rest of the market due to buyers controlling the price.
Volume on FAS and FAZ will tell you what other people are thinking, but its not a true indicator of how hard FAS and FAZ are being pushed up or down, that's almost entirely based on its underlying assets.
I'd say the volume is telling me how unsure people are about where these etfs are going.
Volume was lower yesterday than it is today.
Quote from dearinfinity:
@Port, how do you like that TZA position?
Note: FAS has key resistance @ 8.35. If it can break this, who knows.. market is choppy but I am apathetic. FAZ is making lower lows fellas, I'd be careful.
After the bell...
"United States : Speech
Released For 4/24/2009 4:30:00 PM
Description
Treasury Secretary Tim Geithner holds press conference following the G7 Finance Ministers and Central Bank Governors meeting in Washington. "
Place your bets ladies and gents. I'll probably stay liquid over the weekend.
You, Scot, Haroki, & myself should prolly lay off Port. I think he may have learned his lesson...but who knows. I sure hope he's not just jumping against this thing but rather reevaluating his positions.