i'm long at 16.43 average, but have a feeling this thing is going to drop hard tomorrow back into the 15's. it seems whatever bad news comes out, it doesnt affect the markets anymore. i've been a bear, but unfortunately now i think the markets will continue to go up or stay sideways, which will just hurt FAZ. this sucks. when i bought in, i thought faz would have a run back into the 40s at least. now it looks like it will touch single digits like fas. what a joke.
I am worried about tomorrow, but I have a GTC order at $28 (basis 18's). I am very positive that within next 3 weeks we will go down and then go parabolic up and fill the gap up to 29 (although technically the gap was at 35), but decay factored into my model gives 29 as the new top.
So just chill, write some calls for Apr $25 or May $25 and relax.
Well nobody really knows, do they. You're in at a good price. Set in some stops and relax. It will go up or it won't, but I'm not convinced that all the bad financial news is behind us. If you get stopped out, you can always get in later and lower.
I'm not worried too much.
This "stress test" news is such obvious BS that I have to think any gain on tomorrow's open gets sold into fast and hard.
We went from doom-and-gloom to unbridled optimism about the new "bull market" in less than a month but fundamentally, nothing has changed.
The good news of the past month has all been of the form of leaked memos, rumors about earnings, trial balloons about potential fixes, government proclamations of confidence and results from clever accounting prestidigitation.
Reality, math, and consequence are all still there though - the monster is still at the foot of the bed and just because some have taken solace by pulling the covers over their head and closing their eyes doesn't mean the danger has passed.
Sooner or later when this bear market rally is exposed for what it is, we'll get the next leg down. Personally, I think this happens sooner rather than later.
All of this is just my opinion of course.
Timing is always the hardest part and being early is equivalent to being wrong.
The rally could last a month or two - who really knows for sure with all the manipulation and games afoot. I'm personally betting it doesn't take nearly that long though.
Good luck to all.
It is plain and simple though, if you think FAZ will tank tomorrow, sell everything at a good point at the open, and go to FAS
You can sit the drop out, and do nothing, but what is the use??? I also think FAZ will go up again in a few weeks or months, but why wait untill it is at 4 or 5 and miss all the gains in FAS in the mean time?
You have to think like an investor and not fall in love with the stock you own!
WEll, eventually the piper has to be paid. The uber-bulls don't want to let go of the market, but there are factual monetary problems that are very clear in black-and-white. That much is true. What you have is the buy side of the market trying to jaw-bone the market up, but it will eventually be to their own detriment.