neither. get some BAC yo

^^^

you are kidding about BAC right?

holy fuck my fas got hammered...lol
lucky im not on margin.. guess the best thing to do is just wait it out..
check u guys in a week.. if i havent drank myself to death hahha

lmao WERE FINISHED :haha:


who wants to get hammered :)

hammerd already....

I got into FAS @9, thinking it can not be any worse than that

oh well, averaging down I guess lol.

Good thing my ABX and GG covered what I lost.

well lets hope O pulls something out of his ass..lol

I got my cash on the sidelines waiting it out.
There was nothing positive on the charts that showed a reversal was going to happen.
Financials are oversold however. But just wait until you see a clear reversal before you jump in.
It's better to miss a few % of a gain than to hold for a double % loss.

i think once some positive news comes out..
there will be a massive short squeeze...
"lets hope"

what you said makes sense, however, in most cases if you get in when there is a sign of reversal, it is often too late, especially true with leveraged ETFs

Financials are obviously oversold, that's a given, I was expecting FAS to lose at most -32 to -35% with the Obama halo but oh well

Good thing i didnt go all in, learning from my SKF mistakes.

It won't be too late if you read it correctly.
You can also put a stop below your buying price if your afraid of being caught in a headfake. (But that's not a good strategy if your playing 2x-3x etfs)

These things can have 5-10% gains each day for like 1 week- 2 weeks.
So being half a day late or 1 day late is not going to hurt your profits at all.
Just follow the herd. The big boys will let you know when to get in.

I always tend to look for a large green candle bar with heavy volume to occur first...then you can get in on the pullback right after which will usually bounce off some sort of technical indicator...like a DMA or VWAP depending on which timeframe your looking at and then there should be another large green candle bar setting higher highs and higher lows etc.

I'm still looking for a bear market rally in the next few days that should take us back to 9000 or more though. Which is why I haven't entered into any shorts just yet. However if we break below today's lows tomorrow then I would think we would be testing the previous lows set in Nov. and could break even lower.

that strategy worked for me for the first 50 weeks of 08, until Questrade decided to have "unscheduled maintenances" on a regular basis for the last 2 weeks.

:D

edit: I forgot to mention, that most of these short etfs track daily performnances of their underlying indexes, so the point of reading daily charts is pointless.

yea i was only joking.

with all the massive toxic-asset write down soon and government bailing them out some more, shareholder are gonna get the worst of it.

or worse, Nationalization on BAC

fingers crossed

Failed breakout on the DOW.
Not looking too hot right now.
Opened some shorts on the gap up today in the am.

the 8000 support is getting weaker

GAW Obama pull something out or we are going to meet at 7600

Ok took my shorts off the table.
F'n rally came outta nowhere.

^from financial oversold?

:D

I guess so. IMO billions of toxic waste and debt is not going to go away that soon.
However, my opinion doesn't mean shit in the market so I'm just gonna hop on the rally train and ride it along now.:haha:

I am seeing green :D

Out with 15% gain in like 1 hour lol.
Gotta love these bear rallies.
Not going to hold anything overnight. Too much of a gamble these days.

from -20% to 10% in 1 day :D

out of everything, probably going to get back in fas tomorrow depending on the earnings

:D

phewwwwwwwww......

fas AH @ 10.50 right now with AAPL beat, I guess I should start looking at FAZ now

:D