My FAZ is getting decimated. FAZ just made a new all time low. I am wanting to hold it and recover. I now wish I had not thrown 50% of my money in FAZ! Ouch. I will try to hold it and hope for a recovery...I don't see why financials are leading us right now...surely it will turn back around? I need 41.30 just to get back to even.
AIG is up again over 35%
For some reason, the market is drunk on stupidity. Sooner or later it will sober up. try not to feel too bad, there's always some poor schmuck like me who is worse off than you.
JTH is 100% FAZ
Candlestick crack addict...
I hate to see people lose money, but FAZ is not the kind of ETF I'd want to buy and hold. Double bottom breakdown today with no support below. I don't know if it's bullish or bearish, but stops in the leveraged bear funds are getting blown out left and right today.
Beware the gold trade, it's not for the faint of heart.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
I don't know whether to hold on to faz,sds, and dug or to wait and hope they go back up. Geesh...ouch....I have taken a huge hit in 2 days.....my frist 2 days of trading.
My account is down 21%. Ouch. Any advice? I feel we'll go down eventually...not sure if I should double down on anything or not.
If you think education is expensive, try ignorance. - Derek Bok
CP, you're a pretty sharp guy with the technical analysis and I think you should stick to trading the major ETF's like you trade the TSP Funds.
I agree with you that the banks should be down to zero and FAZ should be flying off the charts, but the boys don't care what we think. I'm not a fan of stops, but when trading those 3x ETF's, you really have to use them because once they get going sometimes, it's curtains.
I have mixed emotions on the 3x and 2x funds, they can be a boon, but at the same time, always a double edged sword. (I'm not telling you what to do, but just trying to help you out here.)
Example: If you go 3x short with FAZ, then you should be hedging that with something like SPY. I know it's fun when the whole entire market crumbles and SDS benefits along with FAZ, but let's say the market rallies without financials, then you're really making out. Or if the trade goes against you, you'll always have some kind of cushion.
As for DUG: I would be very, very careful shorting any commodity right now. IBD's leaders the past few weeks have been commodities right now, they are the only sector showing relative strength over time.
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog