Do the Level II quotes help anyone trade this pair?? If they do, could you please give me an idea on what part of the quote screen you find helpful -- thanks.
I may, however the profit potential is declining all the time. The later in the day, the less risk, but FAZ is on the way up right now so you might be getting on a late train ride with the same level of risk but less payoff.
On second though, I am taking another look at FAS for an overnight hold. It all depends on the price and what the % is at the end of the day.
I don't know. FAZ hasn't been a very safe bet. Looking at the last 5 days, it's only gapped up once, and not enough to warrant the risk. The character of fas as it looks right now (obviously a lot can change), leads me to believe FAS is going to gap up in the morning and have an up day tomorrow.
Why are you trading the technicals on an ETF, especially a 3x ETF? If the technicals don't look good for the underlying banks, it will end up going down. Do you see Banks rallying again tomorrow? I don't think you'll lose money on the FAS for an overnight hold, but I just don't think it's worth the risk. However, I could be wrong.
Its been a long time since I have seen such a narrow intraday trading range on FAS/FAZ. Quite boring for a 3X.