Yesterday, it traded between 51.50 and 52.25 in the late hours.
Today, more like 49 and 50. Too spastic for me.
Pushed higher late in the day but the constant heave and ho
make the closing action irrelevant.
More of the same churning until the next
Below, the 2-year charts for FAS and FAZ. Clearly, the time decay effect is what makes both more effective as short-term trading vehicles rather than holds. Over the long haul, traders who shorted both were better off than testing the long side, it would seem.
Hate the banksters or not, over the long term,
those bloodsucking pencil pushers show resiliency.
In other words, they find ways to get their way.
FAZ weekly (2 year)
The "easy" money was made in July.