Ruh rohhh

8:39 am (Hawaii) Up, down, up, down ... AAPL and FAZ are my tells. On the news from the Fed of no increased interest rates until 2013, they took turns going way up and way down. Now, FAZ is rocketing to 78. I opened a small lot at 74.75, glad to not pay just a few minutes earlier at 77+. DGP spurted above 63 and I may add a few shares here.

It's a bearish effect. No question. Got out of GSVC for a sizable loss, but it's going lower. No choice but to sell there.

8:52 am (Hawaii) Added more FAZ, overpaid at 81.00. Ouch. Still looking for an entry point on DGP for a few more shares. 

Does FAZ get to 100? Yes. The "easy money" from 45 to 80 was made. The next stretch to 100 will not happen in one day, but sans more bullish talk from the Fed, banksters will keep getting sold off. 

Wish I could've bought some AAPL for a ride to 400, but not even Steve Jobs can stop the direction of the market. 

On the lookout for any chatter from Bernanke in the next few hours. I'll likely hold DGP through anything he says. I'll sell FAZ if he utters the word "stimulus". Or "easing."

Update 9:12 am (Hawaii) Saw my paper profit in FAZ turn into a small loss, got out at 74.00. I'll wait for this to settle down and re-enter with either a better price or better momentum. Had I left it alone at 81 instead of adding more shares, I'd probably have held the position. But the swings are gargantuan right now and I'm not going to try fighting the trend or the masses. Of course, I'd have been better off selling my position at 81 instead of adding.

Indices were up big this morning, then pulled back to flat and slightly negative, but are rallying again. Wacky. 

Update 9:21 am (Hawaii) GSVC now at 14.60. I sold just minutes ago at 13.10. Holy moley. There's some serious craziness going on there. Now 14.99. Huge spreads ongoing. My timing was so perfectly off.