Posted by wbarclay on 23rd of Mar 2009 at 08:22 am
Did anyone else take FAZ or SRS home over the weekend. I
have a lot of both. I didn't plan on it but I work full-time
and got caught on the road unexpectedly so I wasn't able to close
out the positions (or at least take some profits off the table -
gone now). I listened to the update last night and although
it sounds like the market should still move lower, a
small bounce here was likely. Now that we are gapping up big
(I think above resistance) do you think we move higher? I'm
trying to decide if I should just sell on the open for a big loss
or ride this bounce out (I was a little on margin so I'll probably
have to at least sell some). I know that it really depends on
my risk tolerance and where I got in at. I'm assessing
whether I think that this gap up may be close to a short-term
high, then we retrace - if so I will hold. But, I don't
want to risk too much more upside. Any opinions? What
does SRS/FAZ bottom at before going back up?
decide how much more to the upside to ARE willing to risk and
put a stop on it right now -- either a hard stop or a percent
trailing stop, and then be content with your decision.
Otherwise you'll be preoccupied with it and not able to focus on
doing any other proactive trading to better your
situation.
Just my idea.
Posted by bigdaddie01 on 23rd of Mar 2009 at 08:59 am
do a search on the board for rp , last friday he
made some comments concerning the FAZ short he was playing. A Head
& Shoulders was forming on the intraday charts for a bounce, if
you look at the 15 minute on FAS you will see it. Hope that
helps.
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FAZ/SRS - opinions?
Posted by wbarclay on 23rd of Mar 2009 at 08:22 am
Did anyone else take FAZ or SRS home over the weekend. I have a lot of both. I didn't plan on it but I work full-time and got caught on the road unexpectedly so I wasn't able to close out the positions (or at least take some profits off the table - gone now). I listened to the update last night and although it sounds like the market should still move lower, a small bounce here was likely. Now that we are gapping up big (I think above resistance) do you think we move higher? I'm trying to decide if I should just sell on the open for a big loss or ride this bounce out (I was a little on margin so I'll probably have to at least sell some). I know that it really depends on my risk tolerance and where I got in at. I'm assessing whether I think that this gap up may be close to a short-term high, then we retrace - if so I will hold. But, I don't want to risk too much more upside. Any opinions? What does SRS/FAZ bottom at before going back up?
decide how much more to
Posted by Michael on 23rd of Mar 2009 at 09:34 am
decide how much more to the upside to ARE willing to risk and put a stop on it right now -- either a hard stop or a percent trailing stop, and then be content with your decision. Otherwise you'll be preoccupied with it and not able to focus on doing any other proactive trading to better your situation. Just my idea.
The swing trade on FAZ
Posted by junkmaylbox on 23rd of Mar 2009 at 09:52 am
The swing trade on FAZ was at 29.50, and the stop should be at 10.%*3/2=15.08% lower. My stop is at 26.
FAZ/FAS
Posted by bigdaddie01 on 23rd of Mar 2009 at 08:59 am
do a search on the board for rp , last friday he made some comments concerning the FAZ short he was playing. A Head & Shoulders was forming on the intraday charts for a bounce, if you look at the 15 minute on FAS you will see it. Hope that helps.