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Post# of 15261
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Re: kevin252 post# 15107

Monday, 05/11/2009 10:57:12 PM

Monday, May 11, 2009 10:57:12 PM

Post# of 15261
Thanks Kev, I'm long FAZ right now for a swing trade.
I may add more or sell at anytime based on the next couple days action.

I think the overall market, specifically financials, are ready for some RED...

I want 8.50 on FAZ

FAZ
oversold, RSI bouncing along the 30 line


FAS
RSI couldnt break thru 70, looks to test 50
Will the MA100 hold (10.39)? Full Sto overbought and turning down...


Watching the Dow
overbought and STO turning down, RSI couldnt break 70, waiting for SAR break down at 8350 for sell confirm. Long way back down to MA100


keep in mind, anything could happen...DOW could turn back up and break thru RSI 70 and test 9000 before a pullback...the government is doing all they can to paint a Green picture for the American people...unbelievable markets...super risky either direction...

I have been super crazy busy with both work and personal, but I take some time to catch up on ihub once in a while. I miss it...Langs been doing well, great to see how much she has grown over the years since old SS days...I check her board once in a while.

I get what your thinking about erosion on FAS and FAZ, but I dont see any benefit in your hedged play. I would make a decision and go that route until I got stopped out or made my target...your offsetting shorts are a waste of precious trading funds in my opinion. Why make a little from erosion when you could make alot by being on the correct side of the trade...

Awesome to be getting our Gold updates from Popeye...

Life is all good for me...




Just my opinion...


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