Direxion Daily Financial Bull 3X Shares (FAS)

[Porgie Tirebiter]

Thanks for that link. That's good stuff, I hadn't seen that particular blog before and you've given me some good study material.

A friend of mine encouraged me to get into options last year. For the longest time I couldn't figure out why I was getting kicked in the head even when I was right. Then I went to a seminar with Tom Sosnoff and some CBOE guys in Chicago. They talked about implied volatility and it's effect on options pricing. It was like getting the veil ripped from my eyes. I had been fighting decreasing volatility all last summer and fall, swimming against the current. I stayed away from options until the VIX got below 20 again, and finally my positions began to work. On the ride back up in May, it was easy money. But now that the VIX is high again, options are off limits for me.

I think you have to post a certain number of times without getting messages deleted, and they will raise your limit to 15 per day.