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Old 02-06-2009, 09:51 AM   #1526
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^based on BAC CEO buying 1 mil shares, and a false rally because Jobless claim is so crappy, that Uncle Sam is bound to do something over the weekend

these 2 points make it extremely dangerous to hold, way too many uncertainties and no principle change in the market condition. Day trade at best.
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Old 02-06-2009, 10:44 AM   #1527
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hey wouwou, what are your thoughts on bac/citigroup? you think those are a good hold for the weekend since the stimulus plan voting is tonight?
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Old 02-06-2009, 10:53 AM   #1528
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Personally I wont, I consider any long term holding of C/BAC to be gambling right now, you might as well get FAS and hold it if you REALLY REALLY want to, but with the recent Fed moves such as FRE, FNM, TRAP, CEO .5 Mil restriction etc, as well as the lowering yield on the C's hybird bonds all indicate a realistic probability of BAC being nationalized, in which case all commons and perferred will be literally wipeout. It dropped 11% last month, more than it did in 2008. Similar to BAC bonds too.

I am waiting for FAZ to lower into the 30s and I might get a few No underlying change, increasing spending with no foreseeable end to the drop in the near term = false rally. It will probably hit 250, even 300, but I dont think in the near term it will turn the market.

just my 2 cents.
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Old 02-06-2009, 11:20 AM   #1529
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This financial rally is based on the eliminating mark-to-market rumor. We'll find out soon enough if that's true, but i wouldn't buy any financials at this point.

What will hit 250-300 wouwou? no way FAZ will reach that mark lol..
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Old 02-06-2009, 11:55 AM   #1530
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I meant DOW, not FAZ. I know I should be watching S&P, but I find myself better at reading the overall market trend with DOW for some reason.

It's still Friday morning, I am not THAT drunk to think FAZ will hit 250, well not yet lol

As for the Mark to Market rumor, I see that as a way to put the bad bank online without too much of a negative fallout. I believe that rumor came out yesterday or on Wednesday and BAC instantly went positive, from a double digit read lol
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Old 02-06-2009, 01:24 PM   #1531
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Sold off half the shares...and kept what i can afford to lose. Regardless thanks for your 2 cents.
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Old 02-09-2009, 08:17 AM   #1532
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Anyone in bac this morning?
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Old 02-09-2009, 11:51 AM   #1533
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I am

shorted some @ 7, just to see
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Old 02-10-2009, 12:50 AM   #1534
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Hpefully we hear some positive results tomorrow!
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Old 02-10-2009, 08:30 AM   #1535
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Jackpot

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Old 02-10-2009, 08:50 AM   #1536
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i got the fuck out in the open lol!
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Old 02-10-2009, 08:52 AM   #1537
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my short got eaten up @ 5.8 stop ah crap.

looks like FAS time now
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Old 02-10-2009, 09:14 AM   #1538
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the senates vote is coming out soon...wonder what will happen.
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Old 02-10-2009, 09:24 AM   #1539
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we all know it will pass given the Dem's majority control, it's just what they are going to do to the financial institutes that matter.

What Geithner said amounts to nothing, ABSOLUTELY NOTHING. That's why it dropped 270 in a second. only 2 things can boost the market right now, either 1, bad bank, a short term "feel good" treatment that will eventually fail, or 2, do to BAC/C what they did to FNM/FRE, which will literally wipeout the common.

Neither is mentioned, so nothing is going to change.
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Old 02-10-2009, 10:08 AM   #1540
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Stim passed, and it looks like the 8000 support is broken
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Old 02-10-2009, 10:54 AM   #1541
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and Jim Rogers just bashed the plan lol

that's like Cramer saying "buy the banks"!
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Old 02-10-2009, 11:11 AM   #1542
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lol@the market
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Old 02-10-2009, 12:25 PM   #1543
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very happy today.

Now only if FAS hits 7s, I am gonna load up
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Old 02-11-2009, 01:58 PM   #1544
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I'm starting to like this FAS shit.

I shorted the shit out of that at 11.20 - 11.31 spread on Monday afternoon and yesterday it was near $8 and I pulled out like a porn star.

I purchased again first thing in the morning and it's up $0.50 cents.

I usually only trade futures but this is harsh giving me a boner.
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Old 02-11-2009, 07:54 PM   #1545
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well it is a 3x ETF

on a good day it is better than SEX
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Old 02-12-2009, 12:02 PM   #1546
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fas looks really good now...good time to enter?

im pretty sure faz owner will be selling soon.

Last edited by 1.7El_guy; 02-12-2009 at 12:09 PM. Reason: thoughts
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Old 02-12-2009, 12:17 PM   #1547
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damn got out too early...that was crazy.

Last edited by 1.7El_guy; 02-12-2009 at 01:10 PM.
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Old 02-12-2009, 01:22 PM   #1548
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FAS @ sub 9 is still considered good you know

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Old 02-12-2009, 06:39 PM   #1549
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questions for you guys who buys FAS and FAZ

is it just like any other stock that i could place an order for? and do these stocks have an expiry date?

it seems like you guys are making tons of money from these things!
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Old 02-12-2009, 07:35 PM   #1550
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yes, the same you buy say AAPL, GOOG

and

kinda, read up on leveraged ETFs about the decreasing NAV over time.
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