Wednesday, October 12, 2011

Nobody at the wheel

FAZ 1-minute premarket
Middling around 53.60

2:29 am (Hawaii) Futures are slightly up while FAS and FAZ appear to be drifting without solid direction. Though FAZ is down 2.2% to 53.61, it's up from a premarket low around 53.25. Premarket is usually lacking volume but this is a raft adrift in a calm sea. It could become tumultuous soon enough.

I can toy with lines and trends all I like, but it doesn't make me more certain about any direction.

Update 2:46 am Out of FAZ at 53.25 for a loss of 1.69/share. Small loss, and keeping it small. I like the price but with Europe giving superficial signs of stabilizing just a bit, it's an uphill climb for FAZ this morning.

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