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i just sold my last shares here at 13.72 at afterhour :)
whew! what a day!
i know monday might go much higher...but i jsut don't want to keep them here over weekend ..
have a great weekend!
kei
Congrats to everybody long this market. Hopefully you're not the same ones who not only didn't see the flash crash coming but didn't see the debt crisis crash in august coming either, nor see this next run coming as just another short opportunity. Cash is king! Also, a big F U to this market and its manipulators. Dead to me, the market is. The crash coming is going to make that 1000pt drop look like child's play.
profit taking is the word i here for today, i,m out! not holding over the weekend
The dude on CNBC from oppenheimer this morning matched my earlier post. Although he said 1325 for the S&P.
I think his name was Belski.
The reason being, mutual funds are under performing and have to show results to keep their customers.
A close above 1230 is the buy signal
if i hold over the weekend, my position would be sell on the news pre wensday,. I trade to win! FAZ/FAS all day long!!
thank you for your comment and i agree with you.
...lunch time dip ... imo
how about monday's market?
btw, wow! you own a lot!!
let,s see how the market,s go into the close, i see a lot of manipulation going on as i type.A lot of pressure to enter the markets ahead of the Eu next week.market makers putting the pressure on, but i see a surge EOD.if i do hold, it will be a limited position. maybe 1.5k shares most
as i type ---> weeeeee
are you going to hold over weekend??
agree, got in premarket this am with big position
happy trading!
looks like today is fas day! (as i write)
good morning!!! i could wake up early today! haha!
ge earning is good! imo!
We were setting up for a huge spike Monday on a Europe deal. It appears that it leaked out midday Wednesday and it wasn't going to happen however a framework is in place for a slower drawn out solution, (yeah right!)
So I am all in, fully invested, in the after hours market Thursday.
According to a reliable source, a YMB poster. That we are running to 1300 on the S&P over the next two weeks. Followed by a major sell off.
The Bonds, thanks to Ben selling Short Term bonds, have driven investors out of them. Gold has been selling off as well.
That leaves equities. The question is, is it long or short, equities......
Wednesday's lunch was expensive and didn't sit well, after seeing the markets sell off with Europe indigestion. It's tempting to sell at noon in fear of a repeat today.
However it's gut check time. If Europe doesn't solve the problem over the weekend. It could be a black Monday.
I guess it would be prudent to buy some call options or sit on the sidelines and pay higher Monday, one way or the other.
thank you so much!!
i sincerely appreciate it!!
kei
Thanks for the links. Something is keeping FAS low. Can't really tell what. Some of the regional's like STI and RF perhaps.
You can see a detailed view of what is in FAS on any given day (and it changes everyday) here: http://www.direxionshares.com/holdings_fas.csv
Most of the value is in index swaps on the Russell 1000 Financial index. http://stockcharts.com/h-sc/ui?s=$rifin
And that is the chart you need to pay attention to with both FAS and FAZ.
during the day I keep an eye on this yahoo page
http://finance.yahoo.com/quotes/BAC,GS,USB,C,JPM
and it has a real time tab for the latest quotes
it comes from
http://finance.yahoo.com/q/hl?s=FAS+Holdings
notice that WFC isn't a top holding.
and I find that GS is a real driver of FAS/FAZ, especially since it
does not appear to have a high frequency market maker.
So if GS is red, I stay away from FAS or keep my shares low even if the others are green.
thank you for your comment!!
i lost on faz for the first time today but i gained from fas... i really don't know what i'm doing but i will study, learn and try my best (^^)/
yeeha!
very hard to say with a big move like this, i will wait to see if we have a retrace in the am before reentering. i do expect to see more upside in the coming days.
whats going on...aapl down big now..
ok...there you are
aapl was up when i wrote but now down big!
I would say yes.
thank you so much! i really appreciate advice since i'm so new to faz and fas... i just started last week.
thank you again.
FAS will go up unless some Euro opens his/her mouth, again.
AAPL missed...
hello :) intc aapl yhoo all 3 are going up afterhour as i write.
do you think will fas go up tomorrow again?
tia
Germany and france up the anty, glad i jumped in heavy this morning !
Relief Rally Coming On A Levered EFSF With China's Support?
For a fuller discussion see -
http://www.cleanenergyintel.com/2011/10/could-levered-efsf-and-china-take.html
BAC earnings could be as low as 9 cents a share.
That would be 6 cents lower than this time last year, and 7-10 cents below analyst expectations. If this were the case, what can we expect from the share price?
Monday and Tuesday are the days of reckoning for financials ...
I posted this info on the BAC board as well.
It's clear as day now - the drop that's coming in this market will decimate all things of value. That doesn't mean I don't think the market's going higher from here.. But for those of you who fail to understand how markets work - BEWARE. We're creating the path towards a drop of 70% or greater. The market is manipulated higher, and higher, we're recreating September 2010 - another artificial rise in the markets. The decline once the markets top will be the flash crash and August 2011 x 10! If you don't believe me, have doubts, or fail to understand why this will occur, then time will heal you and change your perception. Most "traders" flip flop - bullish, to bearish, to bullish, all at the wrong times. This market is clearly going higher but here's the thing - IT'S NO GOOD! THIS IS NOT A BULL MARKET. THIS IS A TICKING TIME BOMB. Good luck with your trades.
-deadjim
In 11.55 out 12.42
There is too much uncertainty going into the weekend. The fact that banks barely participated in the rally has me concerned. Large outflows in BAC, with retracement under 6.20-6.22 support is cause for concern. If the G20 meeting spurs some good news, I will be buying back in at a higher price on Monday.
Dow has rallied huge, and in my opinion, the S&P rally has been pathetic in comparison.
I will be refreshing the Bloomberg news page Monday morning so I can get an idea of the direction of the market.
Canestsal
Bank Layoffs Exceed 100,000: Where the Cuts Are
Published: Thursday, 13 Oct 2011 | 3:31 PM ET
Banks are shedding jobs worldwide as stricter regulations and a tough second quarter for trading income take their toll on investment banking units in particular.
http://www.cnbc.com/id/44892356
Thanks Barney and Chris.......
I know it's Bush's fault......
Thanks for the heads up guys. Ill keep my eye out. My position isn't too big so ill hold onto my shares on a pull back and take a gain on the next advance. Hopefully it can cross above the 50 day ma also. I'm concerned about the 50sma being a tough technical resistance.
There will be a few more weeks of rallying here. I'm holding my $11.55 shares and waiting for the $15 range resistance. I would not be surprised if FAS touched the 200day MA. It looks like we are going to be rallying for at least a few weeks here - and this is a great broad spectrum bank play.
All the banks, the S&P, and FAS have broken their downward channels to the upside on the daily charts. Banks are oversold, despite their problems.
Check out all the indicator curl-ups on the banks, S&P and FAS.
just watch the S&P, many expect a pull back around 1220ish
http://ciovaccocapital.com/wordpress/
JPM reports in the morning and has a history of selling off.
I'll be waiting for that.
I'm expecting more of these type days. I added after the strong open. Financials are going to reverse - no doubt.
fas getting a little love today
completely agree! It broke the downward channel friday and ended above it today. Charts very positive, imo. + increasing sentiment that the EU situation will be taken care of to avoid any financial disaster. This is really looking like a huge play setting up.
i jumped out at 11.78, will expect to see a pull back in the am. caution is the word of the day. i have converted to all cash, no core position in fas/faz. will be watching. quick entry/exits are going to be my plays work around the .20
charts are set-up very nicely!!
$12 would give us good confirmation for a major upward trend ...
good luck roc
3x is tuff stuff !!
Argh! I got stopped out at 11.35, only to go back in at 11.55!!!
Frustrating!!!!
she could break out into the close
nice move on fas today, was able to ride the last 1/2 hour.volatility is our friend!
I went flat before yesterday's close.
GLTA
I would agree here I am holding overnight till monday and see what Europe does to stregnthen the banks. Germany may not be on board but I would also look for strong buying pressure at EOD. If the pps hits an acceptable target I will unload some.
That's why I took profit... I've lost by holding too long in the past. However, I ended up picking up a few more puts due to the 15 min chart. Just a few since I really need to get back to bed. I was up too late playing a new game I found. lol
In Reply to 'Porgie Tirebiter'
Good job!
I don't know how many times I've watched a position in naked options turn from a tidy profit into a huge loss. When you're up... GET OUT!!
Have a good nap!
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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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