You buy FAZ thinking end of world and hold while it decays gradually. You have huge down days like today and it doesn't even perform as advertised as major banks slid. some more than 3% so FAZ could have been up 9%. I am bullish but at least of decnent bear protection, not this fund. 1 tick higher is led my 5 ticks down
While there are many that hold FAZ, which is just stupid. I know that some, such as myself trade in and out, and generally trade other stocks as well. I am big into TVIX just because it bounced close to the 52 week low. I wouldnt touch TVIX above 25, but I am young and have time to be cautious.
I also read many of the posts and get good tips from Duydinh, who actually has made me 10% or more in returns a few times now. Some like Polish Guru and Carnut are complete idiots and do nothing but sucker people into their lopsided trades.
SO dont feel sorry for us, most are not gambling their rent. I am gambling no more than 3 months salary.
This FAZ board has traders from everywhere. It's got lots of smart people (and lotsa idiots too! and lotsa fake IDs)
FAZ traders also trade FAS
I agree with you on decay of 3x funds. Not to be held more than couple of weeks - if that. (I have lost money myself - I know decay ! )
Just because people post here doesn't mean they are always in or holding FAZ. Best board for "bailout world" is right here on the FAZ board. Sheesh, I made 58% trading FAZ last year! Up almost 90% overall.
The volatility was great for gains!!!!!!!!!!!!!!!!
don't feel sorry for these ignorant clowns. Most will never get out of FAZ with a profit. They don't understand how many times this was reverse split and the mathmatical decay. They look at the chart and don't even factor it in. I am spotting them some further upside but they won't ever sell