Fas/faz - 5/18

smart money may have a point, the futures are currently doing synchronized diving

 

The housing start numbers came out lower than expected and today is a slow news day. That gives traders all day to think about profit taking.

 

Alright I may close out my long FAS positions this morning and buy into FAZ... we'll see what happens after a couple of minutes of market opening.

 

Yep just sold all FAS..... better to take a smaller hit than a bigger hit. I took everyone's advice and sold before I incurred bigger losses.

Considering FAZ....

 

I am long on FAS....I would have bought it sub $10, but I was away from my desk when that happened the last time this morning.

 

I think i'd buy FAS long if it drops to yesterday's open price... but for now, nothing seems to be happening so I'll stay in cash.

 

You may make money on it. Sellers just aren't coming in right now.

 

I am at the moment 2.1% and climbing in profit. Better than a loss.

 

I just put in a 15 cent trailing stop, I am getting out at the top of this rise whatever it is....yes I am burning a day trade, but this is a quick gain, and I can't ignore it.

 

Ah well, I could have sold for 10.70, but hesitated because I didn't want to loose potential profits. Looks ike that was the top of this rize. I got stopped out at 10.55 for +2.22%