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HOD $94.87. Giving some back into close?
I'm never able to get the timing quite right, but I'm wondering where the bottom is for FAS.
FAS bounces. Wish I could find the bottom.
breakout watch still in effect
BREAKOUT WATCH for possible breakout above 93.48, no resistance in area just above.
Type: Continuation breakout from single resistance.
Target: 108, 16.2% Stop: 87.59, Loss: 5.8%, Profit/Loss ratio: 2.8 : 1 - Good
Breakouts are an exception to the normal indicators which can at the same time indicate bearishness.
thrasher, Are smart people still selling?
BREAKOUT WATCH for possible breakout above 93.78, no resistance in area just above.
Type: Continuation breakout from single resistance.
Target: 109.4, 24.2% Stop: 84.11, Loss: 4.5%, Profit/Loss ratio: 5.4 : 1 - Excellent
I'm terrible at timing. Got out at close to the top. I think this continues down all next week.
If FAS gets beaten up, I'm back in around $75
Ever take a peek at T/A ETF AND INDEX ?? Over there POKERSAM predicts a 750 S&P by year's end. Bad for FAS. Good for FAZ
SMART? I usually miss tops and bottoms. My selling should have portended a pop. How low do you think FAS will go?
SMART PEOPLE ARE SELLING!!
Look for the market to pop. I sold FAS. Goy scared being long. Held from below 71 to above 90. Since I sold, the market will continue to run^^^^.
WOW!! Got stronger into the close. MONDAY??
FAS popped. will pull back before close. Not brave into the weekend
Porgie Tirebiter Thanks for the reply. I may get burned. But I'm still not in and out of FAS I hope I'm not soon sorry!
It's a mistake to buy FAS or FAZ based on macro-economic trends. Whether they are good or bad.
They are tools to build a hedge in a day-trade.
FAS got hammered by our housing bubble. Votes can be bought by liberal policies. Loans were made under less than desirable terms.
China's growth is 25 years behind America's. China is catching up. Their growth is based on manufacturing appliances. Then, shipping the appliances to villages without electricity. Also, building cities that have no inhabitants.
Manufacturing moves to take advantage of low pay. It moved out of Japan because wages went up. Once wages and benefits go up, manufacturing will leave China.
Russia is more open to capitalism. It is doing much better. Wealth is being created.
Fast food isn't America's only accomplishment. But...Ever hear of McDonalds, KFC, Taco Bell, Wendy's, Starbucks?
HOW about Microsoft, Dell, Cisco, Apple, Google, Yahoo, or Facebook?
Hey, ever heard of the Wright Brothers, Edison, Alezander Graham Bell,or Bill Gates, Warren Buffet, to name a few?
Even O'Bama came from "humble" beginnings.
America's edge may be temporarily dulled. We still SHINE!!!
FAS,52 week high $171.S&P close to its high.Banks need to run. Seems that may happen
FAS up,WHY no excitement here? Everything already said?
FAS/faz daily plays,but FAS in long term favor?
Italy to get $800b loan from IMF
http://www.bloomberg.com/news/2011-11-27/euro-advances-after-report-of-imf-italy-plan.html
Huge 'crack-up boom' rally tomorrow
If the Republicans comes to power we will have a world war 3.You think you are smart Americans.If we deregulate the dentist care we will do better.We did just that in Sweden Dentist costs
tripled.We deregulated the taxi cab business 1st of July 1990..The costs went up over night with 63 % and stayed there.
We deregullated the financial markets in the late 1980s.We had a severe real estate and housing crash.We sold out 90 % of our state owned business.We got payed.But didnt get no further yield from the sold out companies.We deregulated the electricity markets.Prices
trippled.We deregulated the buss-business.Have not ever seen so many busses crashes into the ditch because they couldnt afford real
winter-tyres.The formal Post office was deregulated.And private
companies took place Costs doubled.I can go on and on and on.
Socialism is a ugly word in the U.S.It remains of China with 9 %GROWTH for the last 15 years.Socialism is really ugly.Right ?
BIll Clinton visited us a few yeras ago.He gave a big hurrah to
the Swedish Industry.Expanding.Well diversified.But he warned us of one thing-Do NOT deregulate the hospital industry.Your costs
will double and only one halfes of the population will have medical assistance.Socialism doesnt work eh ? Ask China or Vietnam.Their growth is 5 x faster that of yours.Capitalism in America is setting somebody on a 7,25 work.Go Wall Street Occupy Go.
Whoa, thanks for the heads up!
http://www.direxionshares.com/pdfs/Reverse_Split_Q_A_101311.pdf
What will happen is that the options will also be reverse split to reflect the ratio.
As an example, if you are currently holding a put with a $10 strike, it will continue trading at close to the same price, and it will continue to show up as a DEC $10 strike. However, it will only represent a contract for 20 shares instead of 100.
So a post R/S $10 put will go into the money at share price of $50. A post R/S put of $15 will go into the money at share price of $75. So there will be no net change in value.
Although the values won't change, one thing to beware of is that Non-Standard options tend to be thinly traded and the bid-ask spread will tend to be much higher.
what are the details on the split?
Question... I'm holding Dec FAS puts and just realized a R/S goes into effect here on Nov 10th. I've never held options during a reverse split. Any ideas on what to expect?
Didn't last long... crazy market these days...but, makes for another good trader.
16.44 not bad for a 15% one day gain.
Futures are very flat, thats pretty weird
cha ching!!! at least for the next few days. Expecting shorts to take positions on the EU wensday, pre meeting thursday
china to the rescue?
European officials have quickly turned to Asia to help bankroll their plan to ease Greece's debt obligations and prevent its fiscal collapse—but it won't be an easy sell.
http://online.wsj.com/article/SB10001424052970203687504577001042833142800.html?mod=googlenews_wsj
Coincidence? I think not.
Two headlines I took from Bloomberg. Try and spot the difference! :)
Dec 16 2010: Greece Pledges to Increase Asset Sales to Reduce Debt - Bloomberg L.P
Oct 26 2011: Italy Pledges Asset Sales to Reduce Debt - Bloomberg L.P
FTK was my big winner today. I was buying heavy when it was in the $4s. Unloaded today at $7.10.
Cramer on CNBC last night
http://www.cnbc.com/id/45023978
Technicals Are Bullish for Retail, Banks
kaaahhh overslept! looks like today is fas day???
its almost impossible for west coastern or islanders to day-trade fas or faz daily if you have a daytime job...
good luck to you!
I totally understand. The markets have been very up and down. Profit is profit. :)
i know i could have made more profit here ... but i just didn't feel like holding these moody fas or faz over the weekend since they change so quickely with global news...
good morning!
(^^)/
Kei nice trade but you should have held a bit longer. GLTY
New euro 'empire' plot by Brussels
European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.
Patrick Hennessy and Bruno Waterfield
8:48PM BST 22 Oct 2011
The proposal, put forward by Herman Van Rompuy, the European Council president, would be the clearest sign yet of a new “United States of Europe” — with Britain left on the sidelines.
The plan comes as European governments desperately trying to save the euro from collapse last night faced a new bombshell, with sources at the International Monetary Fund saying it would not pay for a second Greek bail-out.
http://www.telegraph.co.uk/news/worldnews/europe/8843785/New-euro-empire-plot-by-Brussels.html
10:30am RTT Twitter FEED
European Banks are opposing EU Rescue Fund because it entails bond write-downs to banks. Banks are pushing for capital injection.
7 Nations are opposed to increasing the EU rescue fund to over $1 trillion. The 7 Nations are pushing for the IMF to inject more capital into Europe, relying on US funding.
US banks are heavily exposed to European bond derivatives, several banks are seeking to have these derivatives backstopped by US Federal Insurers.
France will likely be downgraded by S&P if they do not agree to German debt plan, or attempt to recapitalize their banks.
Italian bond yields on the 10 year not set to spike near 6.5% on Monday.
Just wait till we see how big the hair cut is> my guess, mind blowing!!
I'm a little annoyed due to the manipulation, but I kinda figured we were going to these highs about 4 days after the market put in its lows around 1078, but to see it play out, while I still have some short.. yeah, not happy. nobody was bullish in 2009 when I was buying, and now everybody's bullish way the hell up here? just makes me sick. yeah, i'm a little chapped.
I was also short after the flash crash bounce, and my best short so far was an accumulation over 2011 and into the debt crisis. and now we go higher. perfectly logical (not), but I expect this to play out no differently than the tech bubble in 99/2000 and will end up worse than the 2008 crisis.
you sound a little chapped, roll with the markets, never fight the tape.
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Welcome
The key word to remember here is DAILY.
FAS/FAZ are not intended as an investment, but as a trading tool designed to reflect the DAILY moves of the Russell 1000 Financial_Services Index X3.
Historic Develpments for FAS from Direxion
Forward Split for 5 Direxion Bull ETFs
FAS included in Dividend Distribution
Each day Direxion publishes the current makeup of this ETF: http://www.direxionshares.com/holdings_fas.csv
Link To Direxion's FAS fact sheet: www.direxionshares.com/pdfs/Financials_Bull-Bear_Fact_Sheet.pdf
Link to fact sheet regarding Russell 1000 Financial_Services Index: www.russell.com/indexes/PDF/fact_sheets/US/1000Financialservices.pdf
Link to Prospectus: direxionshares.onlineprospectus.net/direxionshares/FAS/index.html
Link to Summary Prospectus: direxionshares.onlineprospectus.net/direxionshares/FAS/index.html
Link to Russell 1000 Financial Index (RIFIN) chart
Link to Dow Jones US Financials
It is important to understand the unique characteristics of leveraged ETFs, and in particular Triple Leveraged ETFs.
While these funds are designed to reflect a daily 3X change in the underlying assets, It is important to understand that over an extended period of time a leveraged fund may actually UNDERPERFORM the underlying assets represented!
Important Reading:
www.direxionshares.com/pdfs/DS_Paper_011210.pdf
www.finra.org/Investors/ProtectYourself/InvestorAlerts/MutualFunds/P119778
Good video:
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