Direxion Daily Financial Bear 3X Shares Message Board
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ALL IN!!
I'm done, bought @ 18, 16, 14, and today at 12.10.
$30,050.00 in this puppy, 2000 shares at $15,025 a share.
It's my hedge, can sit there for years waiting for that very rainy day/month(s) in the markets.-
3x ETFs do not work long term. The decay will still kill you even if the markets take a beating 1 year from now.
- 1 Reply to mrpoorguy
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I understand the decay principle.
Yes this is the crack cocaine of the stock market that can produce major losses or gains in a blink of an eye.
If one plans to hold FAZ or FAS for longer than a day then one should be intimate with all of the major financial institutions and their daily charts...daily!
Also, one should stay close to this chart.
http://www.google.com/finance?client=ob&q=INDEXAMEX:RIFIN.X
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don't hold trade it...make out better...trade faz then fas then fas then faz...etc...
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Geesh, did I buy the bottom yesterday?
As much as I wish I did, I don't think so.
Nevertheless, I recommend buying and putting it way for the next rainy season. -
You will need to set aside money each month to buy more at $10, $8, $6, $4, $2..
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IMHO you should wait until DJI hits 11200, then go all in
Here's my trade on FAS last year around near this time:
05/01/2009 15:26:58 Bought 14700 FAS @ 7.78 -114,373.00
With ETF, I think the real benefit is in the long run, look how much house money I have to play with now, after I sell FAS in a week or two.
Wit ETF, I think you should look at trend lines and fibonnaci retracement level, I think FAZ will get into the 8s range, just like FAS did last May.
Good luck. just IMHO- 1 Reply to suntzudredneck
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I hear ya suntz BUT, I didn't but at higher levels, 80, 60, 40, 20, I waited patiently for 18 before I bought my first 500 shares and that at 16, 14 and today at 12.10. It's hard if not impossible to get it perfectly (by the bottom), I'm comfortable with a $15.20 average.
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You finally got your $12, er $12.10 buy.
I think that if you can afford to have $30,000.00 sitting around as a hedge...go for it.- 1 Reply to dogatepostman
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One thing I won't say is that I bought at the bottom, this could easily continue to fall. At the first hint of trouble though (whenever that might be) it'll run like wildfire. I'll need that to counter my losses that I'll be receiving in the rest of my portfolio.
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I own this POS too. But, I wouldn't throw good money after it. Use the %10 rule. If it goes down more than %10 get out, no matter what.
- 2 Replies to MCROC43
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You are not alone me too.
I am all in with FAZ too.
Go FAZ !!!!! -
I agree with you, but on a shorter term play. This is a loooong term play, a hedge, could be years before it comes into play, could be 3 months from now.
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