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Old 05-09-2012, 11:30 AM   #7426
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Quote:
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FAZ is what I should have bought yesterday.

Picked up 10k shares @ 23.56

At least I'm hedged now... Euro fucks.
Woah $235,600 play ? You must have a fatttt account
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Old 05-09-2012, 11:55 AM   #7427
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Woah $235,600 play ? You must have a fatttt account
Lol not that fat.

Try DIREXION DAILY FINANCIAL BEAR 3X SHARES FAZ:NYSE ARCA

Currently at 22.96/share.

AME_VIP, how does Direxion collect it's management fee for this fund??
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Old 05-09-2012, 12:09 PM   #7428
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left over 6k on the table fuark
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Old 05-09-2012, 01:46 PM   #7429
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I honestly don't know. I normally buy and sell FAZ the same way I would any other share and just pay commission to Questrade.

strykn do you know?

Direxion Shares | Leveraged ETF | daily 3x Leverage ETFs | Bull ETF | Bear ETF
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Old 05-09-2012, 07:13 PM   #7430
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ive never heard of any management fee... jason 200k in an etf ur nuts lol
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Old 05-09-2012, 07:33 PM   #7431
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ive never heard of any management fee... jason 200k in an etf ur nuts lol
Quote:
**Rafferty has contractually agreed to waive all or a portion of it’s fees and/or reimburse the fund for expenses
through April 1, 2013, to the extent that the funds net annual operating expenses exceed 0.95%.
http://www.direxionshares.com/pdfs/FASFAZ_FS.pdf

Quote:
FEES AND EXPENSES . Expense Ratio 0.95%
Gross Expense Ratio 0.98%
Net Expense Ratio 0.95%
Management Fee 0.75%
ETF Snapshot - MSN Money

From what I can tell the .75% management fee would be deducted from the equity in the fund or dividends paid through holdings in the fund. Though you may not personally "see" the management fee being collected, it is in fact coming out of your pocket.


For the record, I do not have 235k invested in FAZ lol
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Old 05-09-2012, 07:49 PM   #7432
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Quote:
Originally Posted by jasonturbo View Post
http://www.direxionshares.com/pdfs/FASFAZ_FS.pdf



ETF Snapshot - MSN Money

From what I can tell the .75% management fee would be deducted from the equity in the fund or dividends paid through holdings in the fund. Though you may not personally "see" the management fee being collected, it is in fact coming out of your pocket.


For the record, I do not have 235k invested in FAZ lol
Quote:
Originally Posted by jasonturbo View Post
FAZ is what I should have bought yesterday.

Picked up 10k shares @ 23.56

At least I'm hedged now... Euro fucks.
10,000 shares at $23.56/share ? :s

Or are you playing options, in that case 100 contracts?
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Old 05-09-2012, 07:56 PM   #7433
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10,000 shares at $23.56/share ? :s

Or are you playing options, in that case 100 contracts?
Hahaha holy fuck...

Yeah so my math skills are right up there with my ability to pick winners lol.

Let's revise this, 1000 shares @ 23.56$.

I guess I'm not used to writing anything less then tens of thousands of shares cause all I usually buy is penny garbage.
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Old 05-09-2012, 11:12 PM   #7434
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hahahahaha you did pick CLL pretty well at 30/40 cents didn't you?
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Old 05-10-2012, 05:52 AM   #7435
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hahahahaha you did pick CLL pretty well at 30/40 cents didn't you?
Even the broken clock is right twice a day lol.
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Old 05-10-2012, 09:09 AM   #7436
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Pathetic volume today...
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Old 05-10-2012, 09:22 AM   #7437
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Broke one of my rules, back into a trade, revenge trade. i will kill this one or get burned hard
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Old 05-10-2012, 09:55 AM   #7438
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Who's eyeing Prophecy Coal (PCY)? It's been taking a hammering lately. Good value?
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Old 05-10-2012, 11:23 AM   #7439
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I've had PCY on my watch list for a long time. Not a ton of movement on it. Oh wow down 11% today. Crazy.
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Old 05-10-2012, 01:55 PM   #7440
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ur FAZ is gonna do good.. JPM fucked up big time LOL
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Old 05-10-2012, 02:25 PM   #7441
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Drinks on Jason!!! Especially with that 235G position on FAZ

It's up around 24.40ish in after hours
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Old 05-10-2012, 03:55 PM   #7442
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Let's hope Jason didn't sell! Other US banks getting dragged down as well in after hours trading.

JP article from CNBC:

News Headlines
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Old 05-10-2012, 04:49 PM   #7443
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Let's hope Jason didn't sell! Other US banks getting dragged down as well in after hours trading.

JP article from CNBC:

News Headlines
Certainly did not sell, just caught the news about JPM now as i have been on a plane the last few hours... Yes indeed should be a good day for FAZ tomorrow, 2 billion is a big hit to JPM, if all the other major banksters pulled the same shit I will be buying everyone drinks lol...

COMMON BENNY!!! QE3!!!!!
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Old 05-10-2012, 10:04 PM   #7444
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Who's eyeing Prophecy Coal (PCY)? It's been taking a hammering lately. Good value?
Stay out of Mongolia for the time being. Wait until they provide more guidance to their mining laws and foreign ownership. Look at Southgobi as PCY is trying to mimic their business model. Southgobi is a coal producer and was recently sold to China. Govt of Mongolia stepped in and killed the plans. Southgobi's majority owner is Ivanhoe Mines. If Ivanhoe Mines can't push it through, John Lee and PCY stand zero chance.

caveat - I'm a pcy shareholder.
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Old 05-10-2012, 11:36 PM   #7445
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BBC News - India factory output dips 3.5% as manufacturing shrinks
China industrial output lowest in nearly three years | Reuters

very bearish out there, good thing i went net short!
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Old 05-11-2012, 09:28 AM   #7446
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Drinks on Jason!!! Especially with that 235G position on FAZ

It's up around 24.40ish in after hours
Hope he sold it right away. Now at 23.10
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Old 05-11-2012, 10:52 AM   #7447
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Hope he sold it right away. Now at 23.10
Mehhh even if I caught it at the high it would have only been a 840$ profit.. that's not enough for my greedy nature...

I think those retards in Europe are far from done dragging the rest of the world down... just need one more EU member to shit the bed on bonds and FAZ will pay out nicely lol
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Old 05-11-2012, 11:27 AM   #7448
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guess market doesnt give a fuck about jpm.. i bet you there not the only bank that dun goofed
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Old 05-11-2012, 11:43 AM   #7449
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guess market doesnt give a fuck about jpm.. i bet you there not the only bank that dun goofed
Wait for the close
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Old 05-11-2012, 11:45 AM   #7450
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There was definitely insider/leak, there was 13000+ volume in the weekly 41 puts for JPM yesterday.
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