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Direxion Daily Financial Bear 3X ETF Message Board

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  • yourdeadmeat69 yourdeadmeat69 Apr 24, 2009 4:30 PM Flag

    Here is a true FAZ story

    The only way to go into fas or faz is five to ten minute scenarios at best. Find the bottom of the channel, bid ten cents lower, and if it catches shoot for five to ten cents above the position.

    If it bottom, sell a covered call in the money against the position immediately to stem the blood flow, especially on a weekend when a dime or so will inure to you because of decaying time premium.

    Owning FAS and FAZ simultaneously with this hedge can make you money, but you need to get in when the ETF is in the six seven or eight bracket, the decay can wipe you out even covered in the money calls won't help.

 
FAZ
12.22+0.1350(+1.12%)Apr 27 4:00 PMEDT