Wow do you change your mind quickly, I thought you were all in on the XLF, UYG and FAS..... Now your talking about FAZ.... ha Port1385 Registered: Apr 2008 Posts: 1118 12-07-08 11:50 PM Time to get ultralong the financials and energy. Time to get back into the ole faves like OXY. The bottom is in and the bear market has ended...there will not be anymore crashes in our time.
I didnt say I was going "all in", just wondering what you were doing...do you mind if I ask? What is your position with the FAZ?
Im long FAZ in 2 accounts 1 account avg @ $57.58 2nd Account avg @ $51.00 Combined avg approx $54.29. Keep in mind I own a big amount of UYG. A very small amount of FAZ.
Is that your way of hedging the position? I'm not following what you're trying to do with FAZ as opposed to options on UYG...
He's not the only one. http://www.elitetrader.com/vb/showthread.php?s=&postid=2196492&highlight=FAZ#post2196492 NOTE: The "FAZ" had a trading range between 60.50 - 89.00 on Nov. 26th when the person in the thread above "claimed" to have purchased the FAZ. Funny how his two "positions" in the FAZ are not even in the 60, 70, or 80 handle when he posted in the above thread on Nov. 26th. More lies . . .
Paper trade or no paper trade, I really believe its time to get into the FAZ and dump your UYG. The SPY is going to take a dump and it will take the UYG with it.