Fas/faz - 5/4

You gotta love this market...Whoa!! Buy it all except the FAZ & Port's beloved TZA. Easter & Chritmas has been priced into this securities. But from what I'm seeing, this puppy is overbought. I will be surprised if we close strong to the upside...very surprised.

 

less than an hour left to see.

 

Exactly.

I took a long (FAS) when they both broke my aforementioned LH. Made 4% off that.

But even though FAS/XLF/UYG are up huge......."the market"..... not so much. Sounds like no ones buyin' it in other sectors.

 

can someone please explain why faz and fas aredown 18% and up 20% respectively on a mildly up day?

thanks.

 

http://www.direxionshares.com/etf/fbu_3x_shares.html

FAS: Financial Bull 3x

if banks like BAC, C, WFC are up 15% what do you expect FAS to be?

 

Because bank stocks are the new Black. It's the best thing since slice bread. Everybody wants one.

 

Sure, RIFIN is up approximately 7%....The market is in a strong bull rally, and the banks are hot.

I predict that tomorrow RIFIN with either be up, down or sideways. I am leaning toward up though.

 

thx for all the thoughtful responses.

 

467,000,000 million shares on FAZ today, thats incredible, as this drops the volume just continues to surge.

 

Bank Stocks and ETFs Encompass 41% Of Today's NYSE Volume

Themis Trading's Joe Saluzzi notes that Bank of America (NYSE: BAC), Citigroup (NYSE: C), Wells Fargo (NYSE: WFC), JP Morgan (NYSE: JPM) and the financial ETFs (NYSE: FAZ), (NYSE: FAS), (NYSE: XLF) represented 41% of the NYSE composite volume today. 3.3 billion out of 8 billion shares traded.

Joe says, "All momentum and day traders", they "Busted the shorts today."