Yeah I hear you. Sold some more FAZ VERT calls. FAS just broke 8.36
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Faz $8.65 Srs $26.60
- Thread starter JRworldwide
- Start date
Quote from dearinfinity:
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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.
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FAZ has a LL bias right now. The closer we get to the closing bell will tell, but if the price keeps dropping right on up to the bell, I will go all in on FAZ and cash out on the monday morning market selloff. In fact, I'll go all in once I am comfortable with FAZ having reached is lowest low for the day (and a few ticks wrong I am ok with), because 5 or 6 out of 7 of the last Monday's the market has gapped down AND also plummeted after the morning bell rings.
@Scott: Yeah you're absolutely right man--fas & faz just converged, will probably stay strong into close but I'm definitely staying liquid, or possibly FAZ biased by the end.
@Dodge: it's going to be released after the bell buddy.
@Dodge: it's going to be released after the bell buddy.
Im having the same mindset. I think when this stress test paper comes out at 2pm, we may get a spike and then a selloff into monday. But the faz's strong downward trend is painful to stomach.
Quote from Eko_Trader:
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.
I wasn't even talking to Port, I am not sure I even read his post, I was just talking to you guys, and as I was following this thread because I trade FAS and FAZ. I wasn't even aware that Port was having a problem. My sincerest apologies.
Scot
Quote from Eko_Trader:
Im having the same mindset. I think when this stress test paper comes out at 2pm, we may get a spike and then a selloff into monday. But the faz's strong downward trend is painful to stomach.
But its been a downward bias since day 1, it's only had significant gain's during SHARP downturns in the market. $13 FAZ I think was an amazing phenomenon and I never expected it to reach that high any time soon, but when the market does spin down outa control, FAZ is a good thing to be holding. Monday's a typically those days, not always, but typically.
The Stress test is very likely to cause a down turn, government announcements from our current administration regarding the financial sectors (including healthcare by way of insurance), typically cause a down turn in the market.
Scot, didn't they tell you? The bull market is back!
No, really though, lately it's become considerably more painful trying to bet against the U.S. gov't. It is very well possible that the market could react very positively to these stress test results. Most big money I think is sitting out right now, which is cause for much consternation on my part, but again, I'm just playing the trend using fibonacci and M.A..
No, really though, lately it's become considerably more painful trying to bet against the U.S. gov't. It is very well possible that the market could react very positively to these stress test results. Most big money I think is sitting out right now, which is cause for much consternation on my part, but again, I'm just playing the trend using fibonacci and M.A..
Quote from scot.mcpherson:
I wasn't even talking to Port, I am not sure I even read his post, I was just talking to you guys, and as I was following this thread because I trade FAS and FAZ. I wasn't even aware that Port was having a problem. My sincerest apologies.
Scot
My bad, buddy. I thought you commented on Port's prophecy thread. It's an OK read with pretty charts.
Possibly a nasty little reversal in effect.. just shorted FAS & long FAZ