11:32 am (Hawaii) Technical Knockout? Huge volume in both FAS and FAZ. Even with normal profit-taking, FAS is up 17% to 16.45, blasting through that 15.00 level. If the myth/lie can be perpetuated out of Euroland, FAS could rise into the 20s rapidly.
FAZ is barely able to hold above 35, which had been my hope for a new entry point. I'm waiting this out to see how the market reacts. Fuck theory and logic. If hedge funds and mutual funds pour in for Nov and Dec madness, it doesn't matter how smart or clever your theory is about the disintegration of the Fiat monetary system. Not until 2012, anyway.
FAS daily
Completely ripped through megaphone levels
without QE3, unless this Euro Bailout is the same.
15.00 was a possibility, now 25 is in the picture!
FAS daily
The first uptrend lasted 7 days.
The new one barely lasted 7 days, seemed ready
to dip on day 8 (yesterday) and has surged back
to the top of the current level.
FAS daily
Major volume - short covering? - today.
FAZ daily
42 was the new thin ice.
Now 35 is in play, new territory.
FAZ daily
Snapback action could be coming, but I'm not
inclined to bet against the banksters yet.
FAZ daily
Currently below 1-year lows.
FAZ daily
Previous 1-year lows are history now
For a little more fun, a look at SPY.
SPY daily
Basically a clone of FAS daily, if less volatile.
SPY daily
As the EU turns, so does the days of our market.
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