FAZ broke it's support of ~10.90, if you wan't to consider ETF as having a support.
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Faz $8.65 Srs $26.60
- Thread starter JRworldwide
- Start date
dearinfinity nice play on FAS, did you take profit today after such a run up, or are you waiting for Morgan Stanly earnings tomorrow.
I sold in after-market for 7.78
I'm long 100 of FAZ at $12.32.
I don't know if I followed Jesse Livermore's "confirmation" strategy by buying today (~10:40am Tuesday)... after the S&P 500 fell 38pts yesterday (Monday) or I just stupidly chased this stock.
Luckily I only have 100 shares or else today would've been a bigger loss. I thought about adding another 200 shares near the close, but opted against it. My prediction is that the market will retest the lows later in the year (based on fundamentals & stress test rumors), but I don't fell comfortable holding a 3x leveraged ETF for many months when their is greater risk to the downside.
I don't know if I followed Jesse Livermore's "confirmation" strategy by buying today (~10:40am Tuesday)... after the S&P 500 fell 38pts yesterday (Monday) or I just stupidly chased this stock.
Luckily I only have 100 shares or else today would've been a bigger loss. I thought about adding another 200 shares near the close, but opted against it. My prediction is that the market will retest the lows later in the year (based on fundamentals & stress test rumors), but I don't fell comfortable holding a 3x leveraged ETF for many months when their is greater risk to the downside.
Question to both of you:
Where is the logic in making these kinds of trades? Why are you trying to catch a falling knife? Why not just look @ how the market operates in the first hour or so of trading before opening a position on either side? Get a general feel, let the panic subside, and the price action will be in your favor.
Where is the logic in making these kinds of trades? Why are you trying to catch a falling knife? Why not just look @ how the market operates in the first hour or so of trading before opening a position on either side? Get a general feel, let the panic subside, and the price action will be in your favor.
Reloaded SRS back 100% @ $28.10
small add to FAZ @ 9.55
hoping for a multi day or multi week hold this time around for majority of shares.
small add to FAZ @ 9.55
hoping for a multi day or multi week hold this time around for majority of shares.
I can't even begin to tell you how much I urge you not to hold these things overnight for your own sake... look at some of these gaps.
In a bit of hurt? I'm back in FAS @ 7.85