everyone will be leaving FAS soon, and I'll be the last one standing!!!
earlier i was wishing to break even and get out, but not anymore. after seeing everyone get so depressed and frustrated with FAS, i know that time to come. it has hit the bottom.
i remember exactly the same situation and reaction with UCO.
call me stupid, but i'm willing to take the risk until this rides to 0. i'll put more money and buy more if it hits $2.50.
after that i'll trade in my 3-series BMW, and get 7-series beamer while everyone one else driving trucks.
I'll be standing right along with you. You do have to share the wealth. Today, I loaded up some more. If it drops tomorrow I'll load up again. Financials are not going anywhere, they'll be back and FAS will soar with them.
In it to win it! If you've read my blog (and I'm sure none of you have), you'd know that I don't sell at a loss (or cover for that matter).
and yeah, I totally abandoned my proven strategy with FAS!
I would be optimistic like you're, if in this morning I had sold my 15K shares at $4.30 for $1.5K gain.
Anyway, I do agree with you that when we smell blood, the market is very close to (or at) the bottom. Let's bring it on... BLOODY WEDNESDAY (03/04/09)....
the question is where is the low? the dow is heading to the low 5000's and may even lower. it will take everything with it.
if FAS ceased to exist then you may as well call the US toast.
buy FAS but know that there is no bottom yet and cross the fingers that some day there will be a multi day rally and not just a couple hours of green surrounded by red.
cool. don't give up HOPE!!! since it's the only thing that CAN control your action. as i mentioned earlier, everything is being manipulated. you can't predict how the market react with news anymore, bad or good.
don't put too much emotion, don't loose your focus, don't watch CNBC so much, don't listen to negative comments on this board, then you'll be fine.