{"id":1390,"date":"2009-07-08T20:50:01","date_gmt":"2009-07-09T01:50:01","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=1390"},"modified":"2009-07-08T20:51:04","modified_gmt":"2009-07-09T01:51:04","slug":"faz-party-coming-back","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/faz-party-coming-back","title":{"rendered":"FAZ Party Coming Back"},"content":{"rendered":"<p>During Dec-Jan our desk traded almost exclusively these two triple leverage ETFs. They provided plenty of opportunity as they would move a lot, had plenty of order flow in them and traded somewhat cleanly. We stopped trading them the moment FAZ went below $8 as the volatility died down considerably and felt like we were trading $AIG below $1. <\/p>\n<p>Direxion announced recently a 10 &#038; 5 reverse split in FAZ &#038; FAS respectively, effective tonight after the close. Please see the prospectus supplent <a href=\"http:\/\/www.direxionshares.com\/pdfs\/Prospectus_Supplement_FAS_FAZ.pdf\">here<\/a> for more details. Talk about a super chop!<\/p>\n<p>We are almost certain that this will put these dopey ETFs back in play. For those of you momentum player and super short term scalpers these two stocks will provide a lot of opportunity again. It is time to review those tapes of how they traded a couple of months back. <\/p>\n<p>I just spent the last couple of hours going over old tapes and doing plenty of visualization exercises to get me prepared for this free money festival tomorrow. With the big list of earnings companies not rolling in until mid next week these two will provide plenty of opportunity until then. <\/p>\n<p>Do keep in mind though that these two ETFs do not behave like real stocks, there is no overbought or oversold condition. There are certain adjustments you must make to your normal trading. Yes from time to time you would be able to spot a great chart setup to play for the big move in these two. However, we found that there was a lot, let me repeat that, a lot more money to be made by scalping the nonsense out of them. <\/p>\n<p>Get some rest. Bring your FAZ party hat for tomorrow. I can&#8217;t wait!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>During Dec-Jan our desk traded almost exclusively these two triple leverage ETFs. They provided plenty of opportunity as they would move a lot, had plenty of order flow in them and traded somewhat cleanly. We stopped trading them the moment FAZ went below $8 as the volatility died down considerably and felt like we were trading $AIG below $1. Direxion &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/faz-party-coming-back\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":94,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[327,275,328],"class_list":["post-1390","post","type-post","status-publish","format-standard","hentry","category-gilbert_mendez_gmans-blogs","tag-fas","tag-faz","tag-triple-leverage-etfs","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FAZ Party Coming Back | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/faz-party-coming-back\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FAZ Party Coming Back | SMB Training\" \/>\n<meta property=\"og:description\" content=\"During Dec-Jan our desk traded almost exclusively these two triple leverage ETFs. They provided plenty of opportunity as they would move a lot, had plenty of order flow in them and traded somewhat cleanly. We stopped trading them the moment FAZ went below $8 as the volatility died down considerably and felt like we were trading $AIG below $1. Direxion ... 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