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2good2betrue (< 20)

My huge bet is shaping up

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February 02, 2011 – Comments (1) | RELATED TICKERS: FAZ , FAS

A few weeks ago, I started seeing FAZ doing something other than what it was doing - which was going down. Last year was such an awesome year playing FAZ on the pull backs, and FAS on the runs. Played these successfully several times before the market went on a huge climb and the fire went out on the back and forth action. In fact, I was so ready for the next cycle that I missed the FAS buy signals, and watched it climb from low 20s to over 30 while I dumped FAZ for a small loss and in the process moved these two aside for a while.

The last several days, I keep getting these alerts in batches of folks abandoning underperform stances on FAZ. Although I don't yet see these same 90+ players jumping on board with taking FAZ on outperform, I think it is only a matter of time. Same goes for FAZ's CAPS rating, it has no where to go but up :)

The question I keep asking myself, is how much hot air can you blow into this market before it pops. The bulls seem to be taking last Friday as a momentary rest en route to the next milestone, but can such a sustained growth period continue? Love to know what those guys are smoking:)

My gut keeps telling me "suckers rally" -- been there before and entered the chase for the next higher milestone only to get burned. Serves me right, buying stock at the 52 week high - what ever was I expecting to gain? That is what I like about FAZ, 52 week low baby! Buy low, sell HIGH.

Take a look around and show me another stock worth buying right now, that is not over priced, has significant growth potential, and likely not to tank on any significant pull back. Would love to hear what values are to be had right now... I'm not seeing many. Particularly with China market being put on ice while their economy gets reset.

1 Comments – Post Your Own

#1) On February 03, 2011 at 12:42 AM, Valyooo (34.54) wrote:

Nice job on catching the timing for FAS and FAZ, but that is very risky even for me.  I short 3x funds but long a 3x is crazy to me...2x I do (like AGQ)

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