hi SJ: i had 400 FAZ from 53.44 a and sold 250 shrs at 58.2 and i kept 150 for Over nite hold(ONH). dojis on indexes so we'll see if we get follow thru to the dwonside.
I like this play. I sold my SKF puts this morning and noticed quite a bit of wkness in the fins today. I entered some QID but will look at maybe some in the money SKF calls/ FAZ if things look wobbly.
Conversely, SPY, XLF and UYG printed black reversal candles. They are extremely reliable at the end of an uptrend when short term overbought.
yea. i got out of my FAZ long this AM in premrkt with a small gain and looks like that was a good idea. The bulls are controlling things now. need to respect their power here short term .
thanks for the charts. FAZ looks like an inverse head/shoulder on the 5 min today.
ReplyDeleteAre long FAZ over-night or was for day-trade ?
ReplyDeletehi SJ: i had 400 FAZ from 53.44 a and sold 250 shrs at 58.2 and i kept 150 for Over nite hold(ONH). dojis on indexes so we'll see if we get follow thru to the dwonside.
ReplyDeleteholding any 3x over-night is a risky play...good luck swing trading it..
ReplyDeletethnx SJ.
ReplyDeleteI like this play. I sold my SKF puts this morning and noticed quite a bit of wkness in the fins today. I entered some QID but will look at maybe some in the money SKF calls/ FAZ if things look wobbly.
ReplyDeleteConversely, SPY, XLF and UYG printed black reversal candles. They are extremely reliable at the end of an uptrend when short term overbought.
greenlander: i am with you 100%. it's as if you are reading my mind right now.
ReplyDeleteSurprising day today. I shouldve dumped right after the open but waited to midday to cover.
ReplyDeleteStill think tankage is possible but lots of resistance levels broken today.
yea. i got out of my FAZ long this AM in premrkt with a small gain and looks like that was a good idea. The bulls are controlling things now. need to respect their power here short term .
ReplyDelete