FAZ Oversold bounce tommorrow

Discussion in 'ETFs' started by Rainmkr, Mar 23, 2009.

  1. Rainmkr


    Anyone think the banks will hold thru the week or even tommorrow?
  2. FAZ will rally this week, but I would be very careful and exit at 40 the latest...
  3. Don't get in front of the bus... FAZ went down 47% today and the mkt has been screaming. I would be more patient before being bearish on the market. The news must be monitored extremely closely because if there is any hindrance of govt buying of toxic assets, the mkt will tank in my opinion.

    Personally, I was thinking going short around 850 (S&Ps), but after today's monstrous rally I might just have to wait until 880, 890.

    Cautionary Reminder: Opinions are like assholes... everybody's got one!
  4. I would even say 35 for the sake of closing morning gap
  5. dstod


    Vicious selloff last 1/2 hour on this and 2x ultrashort ETFs like SRS and SKF.

    Going to 10 or 35 soon.