Wednesday, August 10, 2011

In and out

4:33 am (Hawaii) Out of FAZ at 68.53, decent profit. It was up to 71.68, but no question about it ... the France banking discussion on CNBC helped FAZ sell off from that high. Went from 70 to 68.50 in 3 minutes. Simon what's-his-name insisting that SocGen has no connection to US banks. David Faber mentioned in premarket that US banks should not sink just because Euro banks go down ... but that's strange because it's all tied in whether the knots are obvious to see or not. Banks lend to each other, "money" (fractal banking dollars) crosses the pond ... oh well. I had a positive trade for a change, no complaints here.

Didn't want to get out of FAZ with the stochastics in oversold territory, but protecting the profit was necessary in this weirdass momo market. MACD is still in decline. I may re-enter once that gets positive. I'd love to hold a core of FAZ all the way up to 100, but it's not worth the risk. I can't beat the warp-speed computers.

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