So it seems the Fed’s are going to prop up the financial sector yet I haven’t seen a turn in the financials yet. What do you all think?
Andy
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Ignore the commentary on what’s being done, no matter how well evidenced it seems. Trade the tape. That’s the only thing that can be trusted, and not even that much of the time.
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re: FAS / FAZ
Andy,
Are you Tetter Tottering this pair. If not WHY ! Your Business Plan says to protect your ASSets at all tymes.
You should be winning with FAZ.
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“Are you Tetter Tottering this pair. If not, WHY? Your Business Plan says to protect your ASSets at all times. You should be winning with FAZ.”
Quill,
Respectfully, I’m going to disagree. On 3/15, FAZ closed down at 24.50, with the candle forming a doji, signaling that the uptrend was ending. Therefore, Andy should have sold at the next day at market open to lock in his profits, and he’d now be on the sidelines. Seven market days later, i.e., last Friday, 3/24, FAZ close at 24.54. Therefore, anyone who failed to get out in a timely manner and who is dumb enough to still be holding FAZ was paid one-half cent per share per market day for accepting lot of unnecessary market risk. That’s pretty low wages.
Will the financials go higher or lower at Monday’s open? Who knows, right? But carrying shaky, sideways positions over the weekend in the middle of the US’s ongoing wars with China, Russia, and Iran and in the midst of a lot of confusion and misdirection on the part of Powell and Yellen --with each saying opposite things within minutes of each other-- isn’t smart trading, nor does it contribute to protecting one’s assets. (IMHO, natch.)
Arindam
I have been studying it Quill. When I found it the Financials were getting pummeled and I was to late to get in but now it looks about ready to change back to Fas and my personal thinking is that with the Fed propping up financials it could be a big winner.
Andy
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