Bought FAZ and TBT
Posted on March 19th, 2009 in Stock Market | 7 Comments »
The bonds had a crazy up move yesterday the biggest move since 1962. I don’t think the TLT (20 year bonds) can hold price it may test the 108.07 price high yesterday. I am shorting this with the TBT.
The financials got a boost but this will not last. The chart below shows the price hitting the mid-upper channel. I am shorting with FAZ…be careful this is 3x leverage ETF… here we go DannyS.
7 Responses
i don’t understand you buy or short FAZ?
i don’t understand are you buy or short FAZ
why you short FAZ or wait for highest point
thank you
Hi Tony, I am long FAZ which is a 3x inverse ETF on financials. Got in at $27.60.
what is target point for faz.
i like to hold stock for few week or a month, look like you did.
my etrade bank can’t trade short etf, do you have any other stock recommend?
thank you
FAZ is a trading ETF and not something you hold for weeks or months. It’s 3x leverage and resets the leverage everyday so it’s dangerous to hold for many days. I d not think financials are heading much lower. The XLF should test between $7.10 to $7.60. I am expecting the hold FAZ to about $45 then watch the volume.
Regarding shorting – there are many ETFs that allow you to short the underlying stock now. For example you can buy SKF, FAZ, DZZ, TWM, SDS which are all inverse ETFs. check this URL for a list of inverse ETFs http://seekingalpha.com/article/31115-inverse-short-sector-etfs
now we are very hurt on FAZ. is bleeding
how you see next few day market. are you take the loss and move on?
I got stopped out of FAZ today at 26.80 this morning and took my profits on Friday. Once I get a profit I always take some off the table and raise my stops to lock this in. FAZ is explosive and looks to go lower to $10-14.