Now it's afternoon on the East Coast and there's not a bear in sight. On this latest push higher, I wanted FAZ on a pullback to 12.80. No luck. No doubt the big boys are shredding the shorts again and again.
Wednesday, October 12, 2011
Forces not of our universe
7:00 am (Hawaii) Slowly, then boom, over and over. FAZ is now at 12.89, and I missed most of it. I got in at 12.31, stopped myself out at 12.23 just before the opening bell. Once the bell rang, it shot straight up. Later I got in at 12.41, rode it to 12.70, but it tanked suddenly from 12.60 to 12.50, I got out at 12.47. Shook out! (I really should've just taken the small profit at 12.60+.) I'm no match for the wild action, even though generally FAZ has just gone up. A lot of pendulum swings, but it's nearing 13.00 (+9%), which I sort of expected after watching it for a few hours.