FAS/FAZ for New Week 4/27

Discussion in 'ETFs' started by scot.mcpherson, Apr 27, 2009.

  1. I have enough to do that, but I just don't have the personality to be in and out all day long.

    Hell, I'm only putting in around $15k right now as my max bet, and that's enough. That's part of the problem I had with trying to do ES. I'm really a piker, and an ES contract is really worth about $45k, and every little swing had my nerves on edge. So I switched to ETF's - starting with UYG/SKF - and lowered my bets to $10k, then $12k, now $15k, and some day it'll go up to ..... who knows.

    So instead of doing the in/out/reverse thing, I do like I've been explaining - wait for a trend, then get in, and hold for most of the day, or even overnight if it's up real nice.

    Less stress/cigarette smoking that way, LOLZ...
     
    #11     Apr 27, 2009

  2. Strange, I find holding more stressfull unless the trend is clear. BTW, are you still long on FAZ?
     
    #12     Apr 27, 2009
  3. The trend is clear to me, but it hasn't been confirmed yet by a push through 8.90.

    Still holding/waiting for it. Stop is at 8.60 now. It doesn't show as a logical level on the mid term, but it does on the short term.

    ETA: plus, check TRIN/VIX. Both are trending up, which is bullish for FAZ/bearish for the market.

    ETA #2: Port may get back to breakeven today if this keeps up, LOLZ
     
    #13     Apr 27, 2009
  4. I guess my psychology is better suited to day trading. I think swing trading is where some real money is found, but when things look not so great for a day or two, is scared the hell out of me. I'd rather get in on a low and get out on the next high, and repeat.
     
    #14     Apr 27, 2009
  5. S2007S

    S2007S

    10 cents from intraday high.............
     
    #15     Apr 27, 2009
  6. fas just hit the intraday low too, and bounced slightly
     
    #16     Apr 27, 2009
  7. Yeah, the planets are aligned here.

    DOW at 8000

    ES at 850.

    FAS/FAZ at their highs/lows
     
    #17     Apr 27, 2009
  8. the dow looks like it wants to go up, but FAS is resisting that urge.
     
    #18     Apr 27, 2009
  9. Yeah, DOW wants to stay above 8000, and ES is trying to not break a double bottom at ~ 850.

    I'm watching TRIN.
     
    #19     Apr 27, 2009
  10. It looks like they shot their wad trying to drive it up now.

    TRIN/VIX just spiked.
     
    #20     Apr 27, 2009