Fas/faz - 5/4

New week, new thread.

I am not holding any positions right now. Market seems to be going up for the early morning, I wonder how long that will last.

 

Same here.

 

I am thinking of grabbing FAZ long for a short term hold, but I am too scared to do it yet.

 

Ha ha, i was thinking exactly that.

TRIN is low though, ~ .30-.35. VIX is also down.

If they start to swing up I'll do FAZ and see where it goes.

Not willing to chase FAS at this point.

 

I wouldn't hold FAZ just yet. Those bank stocks are relentless today. I think it might be a pretty good dump play later during the week. For God's sake. Dow's up 181...at this rate we'll be at 14000 in no time.
However, I don't see the stress test being the trigger. Too much has been made out of it for it to be a major event.

 

I'm not looking to hold anything. I think Scot is the same.

We're looking for interday swings that "might" turn into overnighterz at best.

 

TRIn and VIX edging higher.

Will buy 1/2 FAZ if FAS breaks this double bottom (DB).

 

I will look to buy it when it reaches the 7.58 low that it made last week.

 

So your trading plan is to hold for several days?

If so, I'd get in before that. That's a buck away, or 12%.

If FAS goes down like this hypothetical mid term price chart - black lines - I'd buy FAZ at the 8.50 mark.

That would be a lower high.

 

ya we are about a quarter away from last week's low. And you are right, if you look at the pattern of FAZ, this week's highest high is likely to be no higher than the previous 2 or 3 lowest lows. I don't like holding FAZ long at all because of that, just hoping for quick swings on occasion.