I embarrassed to say I actually bought FAZ at 13 and I took a serious whooping on that. I bought because I thought the bulls were done and we're ready to retrace. I WAS WRONG!!!
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Faz $8.65 Srs $26.60
- Thread starter JRworldwide
- Start date
I embarrassed to say I actually bought FAZ at 13 and I took a serious whooping on that. I bought because I thought the bulls were done and we're ready to retrace. I WAS WRONG!!!
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.
Yeah, I hear you dude.
Scott: I highly recommend reading about options on the internet. Despite this damn market today being choppy as a mother f*cker, I managed to pull in $101.50 with only $643.50 actually in play. I made 8 options trades though, which cost me about $20 in commission. So net is about 80$ on only 640 in play, or roughly +13%. And I'm really new to options trading myself--but it is a lot easier than you'd think and allow you a lot of leverage over PDT.
Scott: I highly recommend reading about options on the internet. Despite this damn market today being choppy as a mother f*cker, I managed to pull in $101.50 with only $643.50 actually in play. I made 8 options trades though, which cost me about $20 in commission. So net is about 80$ on only 640 in play, or roughly +13%. And I'm really new to options trading myself--but it is a lot easier than you'd think and allow you a lot of leverage over PDT.
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Market looking again very ADD...
sold most yesterday into close (srs/faz)
and just added some deep calls on both.
Yes im playing this one out for the correction/pullback/crash....take your pick but im loading.
:eek:
and just added some deep calls on both.
Yes im playing this one out for the correction/pullback/crash....take your pick but im loading.
:eek:
I'm not playing FAS until it breaks through 8.19, and I'm not playing FAZ till it either drops below 8.60, or pumps through 9.18. Otherwise the market noise will literally rape you.
Rape indeed. The RSI has been relatively efficient for me on an intraday basis for both the FAS/FAZ and just about anything else. But the stress test hanging over the market, I would like to stay clear of this puppy. I think good news may have been priced in...I mean, we've had a 6 wk run. If that ain't good news, I don't know what is.
I personally think the stress test will be better than most ppl think. I don't know why Geithner would say banks have enough capital than they need (without any clause) and then come out with a crappy stress report bcuz of a worse economic clause. Just my opinion.
I personally think the stress test will be better than most ppl think. I don't know why Geithner would say banks have enough capital than they need (without any clause) and then come out with a crappy stress report bcuz of a worse economic clause. Just my opinion.
I just sold some FAS calls when it failed to break resistance @ the 8.06 region.