Wednesday, October 17, 2012

FAS/TQQQ

I just finished the risk asset update, the charts are uploading so that will be next and I think it's important.

As far as trading around FAS and TQQQ (3x long Financials and 3x long the NASDAQ 100), I think we are getting good signals, I think we can probably trade more nimbly right now and with leveraged products, I'd rather move out and then move back in when the time and price are right rather than sit through avoidable drawdown and the more leveraged I am, the less patience I have for drawdown.

Even though the FAS and TQQQ gains weren't huge for 2 days, they were decent and definitely the right choice (leveraged asset) for the job as was the choice to diversify as they each had their day yesterday and today, but that was more a function of a 3C signal than anything else.

As for the gains, like I said, not a lot, but the exit seems well timed for what I'm trying to accomplish.

FAS
 Again, I think the exit thus far looks to be very well timed for trading around a pullback/consolidation.

 The gain is +5.39% for the last 2 days which isn't bad considering what the market was offering.

TQQQ
 TQQQ looks even better timed

The gain is almost the same, a bit closer to 6%.

I'll be looking for a new entry in to both on a pullback

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