Posted:
#1
Added a small ammt to my FAZ position today, will keep averaging in since the market keeps rallying.
August Stock Discussion
Posted:
#4
was FAZ really up to 2000?
that's an adjusted for their reverse 1:10 split price. I follow the SKF since they did that reverse and STILL can't figure out WHY they did it. 
bot 2500 SNIC @ 3.88 near the close. volume came in and it hit a high of 4.32. looks like it could be a breakout. this was a 20+ stock back in 2004-5-and 6 and close to 20 in 2007 before the market came appart. have followed the company since the "dot.bomb" days and it's VERY thin with only 26+ million out so it's a real mover when it gets going.
will see what happens.
Posted:
#6
Quote Originally Posted by VirginiaHoldem2:
Instead of buying FAZ why not just short FAS? Then you can get the market decay on your side.
You could hold a FAS short forever . . . a FAZ long could eat you alive with the decay. I mean even after this HUGE run up FAS is only at $13 (pre-split). Pretty remarkeable.
Decay is a killer.
Instead of buying FAZ why not just short FAS? Then you can get the market decay on your side.
You could hold a FAS short forever . . . a FAZ long could eat you alive with the decay. I mean even after this HUGE run up FAS is only at $13 (pre-split). Pretty remarkeable.
Decay is a killer.
True.
This is an IRA acct though, but you are correct about how the ETF is organized..
Posted:
#10
Financials are so damn strong, market down across the board and they refuse to crack.
even though the market is down today it looks like the overall trend is still up. hell, CIT had a rebound to 1 yesterday and is at 1.40 today. considering their financial situation that's a huge percentage move.
both LVS and MGM up a fraction while WYNN is getting a little selling after it's huge run this last month.
BYD is flat to down after showing earnings of 15 cents a share vs 25 cents last year with revenues down 8.2%. I would say thats not too bad considering the Las Vegas and AC markets really SUCK right now.
Posted:
#20
"The government decided not to bail out the company, but CIT got a $3 billion loan from a group of its major bondholders last month, helping it avoid bankruptcy for now. See full story."
in todays news it looks like they were able to get a deal to make that debt payments that if missed would have probably ment chapter 11. their NOT out of the woods yet BUT, as long as their creditors are will to work with them, things are looking better
Posted:
#22
Been nibbling on FAZ...every buck drop I pick up a bit more..
your gonna get nibbled to death by that duck 
I sold half the QID I have been suffering with for the last month in my IRA at a 2k loss today when it spiked early. got 26.75 close @ 26.50 (26.55 in the "here after" market). just seen this show too many times the last month. looks like the market is finally going to sobber up and roll over then WAM!!! another wave of buying.
NO time to fight the tape 
Posted:
#23
Quote Originally Posted by LeRinkRat:
Been nibbling on FAZ...every buck drop I pick up a bit more..
your gonna get nibbled to death by that duck
I sold half the QID I have been suffering with for the last month in my IRA at a 2k loss today when it spiked early. got 26.75 close @ 26.50 (26.55 in the "here after" market). just seen this show too many times the last month. looks like the market is finally going to sobber up and roll over then WAM!!! another wave of buying.
NO time to fight the tape
True..
I like my odds given this summer manipulation and that the toxic mess is down from 65 just since May.
I think the market gets clubbed after Labor day and I actually thought they would sink it INTO Labor Day, then reverse it with big money coming back for an easy payday.
That could still happen..a reversal into late August and a move higher into Sept.
I thought 9500 was in the cards before Labor day, and still think that is possible.
Train wreck for sure fighting the tape, but down here I think the odds are starting to go with the trade..now at 100 it wasnt, but at 30 and under I think there is potential.
Posted:
#25
I went to short FAS again today and TD Ameritrade wouldn't let me.
Says those shares aren't available to short.
I just shorted that and FAZ at the same time a month ago. That sucks. There is no way I am buying FAZ or FAS. Decay will eat you alive if held too long. At least with the short I feel I would have a fighting chance.
But boy . . . is FAZ not a falling knife or what? Can't believe it is down 30% so quickly.
Says those shares aren't available to short.
I just shorted that and FAZ at the same time a month ago. That sucks. There is no way I am buying FAZ or FAS. Decay will eat you alive if held too long. At least with the short I feel I would have a fighting chance.
But boy . . . is FAZ not a falling knife or what? Can't believe it is down 30% so quickly.
Hot Forum Topics
