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IBDvalueinvestin (99.68)

FAS

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February 11, 2009 – Comments (10) | RELATED TICKERS: FAS

I admit I came into FAS early in Jan at $20+ but now at $8.74/shr this ETF has been beaten down by well over 50% in just 1 month's time. Financials are the heart of the American Industry. There is no way America works without financials. Thats why FAS will eventually rise back to $20+ and well beyond that much sooner than most might think is possible. -------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Stocks will make a rebound in a very quick hurry and then will leave many wondering how they missed the bottom.

10 Comments – Post Your Own

#1) On February 11, 2009 at 11:28 AM, BradAllenton (31.41) wrote:

OMG!!! You are not really calling ANOTHER bottom.....

BTW- why can't FAS go to zero?

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#2) On February 11, 2009 at 11:43 AM, IBDvalueinvestin (99.68) wrote:

When did I call a bottom in FAS before?

Brad your fear mongering is getting really old.

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#3) On February 11, 2009 at 11:51 AM, IBDvalueinvestin (99.68) wrote:

By the way Brad my theory that 8,000 is strong support is still holding true, Everytime we break 8,000 we get a big whip back up towards 8,000.

The Nov. 21 low at 7,500 still is the low for 2008

But Yesterday was the low for 2009.

I trade with risk to reward.

Going short now is high risk to reward.

Going long now is high reward to risk.

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#4) On February 11, 2009 at 12:21 PM, BradAllenton (31.41) wrote:

Fear mongering? I don't really say much on Caps at all. I don't post blogs much and I covered all my short positions in real life. You like to make assumptions. I also wasn't saying that you called a bottom in FAS before, I was speaking in general to the fact that you stick your neck out and continue to get your head lopped off. Every chart I look at says the bottom is still to be discovered, but if you think other wise, knock yourself out.

BTW- FAS isn't a company it's a leveraged fund 3x so saying it could go to zero isn't unreasonable.

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#5) On February 11, 2009 at 12:23 PM, swank9 (< 20) wrote:

i don't think you'll see $20 for a very long time, if ever again.  i think the decay is too severe.  these things aren't meant to be held long term.  even the direxion website mentions this.  i wouldn't hold them for more than a day...

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#6) On February 11, 2009 at 12:30 PM, IBDvalueinvestin (99.68) wrote:

Swnk9 your comment is pure nonsense and you should be emabarassed to post such nonsense.

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#7) On February 11, 2009 at 12:42 PM, Paxtor (28.85) wrote:

Holding an ultra long term is a very very bad idea. 

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#8) On February 11, 2009 at 12:45 PM, swank9 (< 20) wrote:

LOL

 i was going to try to help you out, but now i could care less

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#9) On February 11, 2009 at 1:41 PM, IBDvalueinvestin (99.68) wrote:

President Barack Obama said executives at Caterpillar Corp. told him they would rescind some of the 22,000 layoffs they recently announced once the stimulus is signed into law.

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#10) On February 11, 2009 at 2:44 PM, IBDvalueinvestin (99.68) wrote:

I wanna see that 470K short position on FAS at $8.74 now try and cover. Bunch of idiot daytraders.

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