Discussion in 'ETFs' started by Port1385, Apr 15, 2009.
Pretty much the way it works.
I've got 400 TZA shares @ 36.30 (avg.) over the past week - I hope (terrible word in trading) your right. TZA closed 33.83 today.
Not just yet...
And if you're wrong you'll just start a new thread in a couple weeks.
Take it for what it is. I clearly pointed out an obvious rising wedge which typically turns out to be bearish. There have been several rising wedges during this bear market...i.e. last year...which turned out to the downside.
If it doesnt work out, then its just another useless post on ET. However, if it falls out of the wedge then its a nice opportunity to go long an inverse.
To the guy who longed the TZA, I wouldnt do that until we have a confirmed breakdown out of the wedge. I know how sweet it is to fade the trend and get it right, but what you are doing doesnt make sense...as well, when you are down 7+% then you might as well cash out of the position. You should be jumping on the trend after the inflection point (NOT BEFORE).
I pointed out an obvious rising wedge and thats the main reason for my bearishness. Its up to you to fade or wait for a confirmed breakdown...
I went short FAS a bit before the market close
I made this mistake in the srs today. Stupid me, will wait till it breaks.
Hey Port, at least you have the balls to show up after your call has gone wrong. That is a rare thing in ET, specially over the main forums.
o ya... and are being paid for with what jobs?
state unemployment rate one of the highest in the country and rising >10%.
Separate names with a comma.