I was holding FAS overnight, and was disappointed to see it down 10%. But it started running up right away to 7.70, sold when it started back down again at 7.55, then waited. So that trade made me 21%. Bought again at 7.41 and holding still. My humble opinion is that we are now in a little retrace - low volume on this retrace - and as long as it holds positive, I'll hold it and see where we go. I wonder if Port can learn anything from this. Prolly not.
highly unlikely. my plan is to get back into FAS if it can blow through 8.35 with moderate volume, or if RIFIN can blow out 587.
Sounds like a good idea. Cuz this rebound back up now is ALSO on light volume, so now I'm feeling less sure about this. I'll prolly add some around your buy point if we get increasing volume.
Hard to say man, I'm up 5% on the day but I play really conservatively. I figure with 6x (on margin), waiting a few % (ie, for it to blow out 8.35) in the scheme of things isn't that much because of the implications. There was a huge block of ~3000 @ 8.25 which will be pretty hard to knock out
Hehe, I have been saying FAZ is great to hold over night. As an "almost" daily routine, I buy FAZ shortly before the evening bell when it is at or near its daily low, then sell it shortly after the morning bell for a quick boost. I missed the boat on Monday though, I sold too early as my routine dictates and lost a LOT of potential profit....since I flip FAS and FAZ back and forth, Monday and Tuesday were very painful, but I am back in the black on my position with FAS. Yuck, I missed out on a GREAT ride there.
There is no point in tracking RIFIN 1000 FIN if you watch FAS, although the numbers are different, the charts are almost identical, you won't get any indicator from RIFIN about what to do with FAS, because the FAS chart follows it real-time. At least that's what I have determined after following both for a few weeks. RIFIN chart is wasted space on my screen.
Yeah I got outts FAS at 8.15 when we started getting increasing down volume. I'm out, but still looking to get back into FAS cuz I think this downturn is due to the GM news, and may turn back up later. If I'm wrong, I'll stay out and...... beer time!!