FAS --- 3X Financial Bull - Stock Market Forum, Penny Stocks, FOREX, NASDAQ, AMEX, NYSE, Live Chat

thegreatgate · #1 02-12-2009, 11:55 AM

FAS increases or decreases to the tune of 300% of the daily Russell 1,000 financials index: RIFIN.X - Russell 1000 Financial Services (RGS) Index

Also known as RIFIN.X which has had a year range from a high of 816.76 to a low of 452.47. Currently, the Russell 1,000 financial index is much closer to the bottom so there is a lot of upside potential and not too much more downside.

Current price of FAS: $$8.20
52-week low: $7.21

Miss T · #2 03-07-2009, 06:13 PM

FAS will be an interesting one to follow for the next week given all the talk about congressional hearings about mark to market, etc. Jon Najarian gave it some press. But with the way the shorts devour the market it could just be a trap. Got it at 2.41 friday and its up 35 cents plus in after hours. Still a big gamble, but unless we are heading towards total socialism, the whole financial sector has to have a short term bottom somewhere. I am not saying this is it but I have to start somewhere. If it survives the financial system should be up in 10, 20 or 30 years. But I am getting in for the long haul.

**Aufan 1983** · #3 03-12-2009, 04:48 PM

All I can say about FAS today while its @ 5.17 up 28% is

YES!!!!!! THANK YOU FAS!!!!!!

fz4fun · #4 03-12-2009, 06:36 PM

Quote:

Originally Posted by Aufan 1983

All I can say about FAS today while its @ 5.17 up 28% is

YES!!!!!! THANK YOU FAS!!!!!!

In the words of an old Motown group- "I SECOND THAT EMOTION'

**Aufan 1983** · #5 03-13-2009, 07:34 AM

Quote:

Originally Posted by fz4fun

In the words of an old Motown group- "I SECOND THAT EMOTION'

Going to be another great day for financials. Did you see that BAC now says they made a profit and need no more government funds? C & BAC are both going to make a nice run which should take them all higher

**BadThad** · #6 03-13-2009, 03:08 PM

I've been riding BAC up, when I can make good green (>$1500-2000), I'm going to bail and rebuy on retreat.

thegreatgate · #7 03-16-2009, 10:12 AM

Nice to see that a 10% move will now take FAS up over 50 cents. It was pathetic when a 10% move last week barely took it up a quarter.

Quote:

Jason Kelly
Sunday, March 15th

While the uptick rule may be coming back, mark-to-market isn't going anywhere. The SEC decided to keep it, so banks will continue valuing their assets at current market value. Many expected the repeal of m-to-m to spark a huge financial sector rally. In a twist that shows the unpredictability of the market, the repeal never came but the huge rally did.

RETURN OF THE UPTICK RULE

House Financial Services Committee Chairman Barney Frank said Wednesday that he expects the SEC to reinstate the uptick rule sometime next month.

The rule regulates short selling by requiring that stocks be shorted only at a price above the price at which the immediately preceding sale happened, the idea being that a plummeting stock can't just be shorted to death all the way down without interruption. An uptick is required, hence the name.

After a one-year temporary suspension of the rule begun in July 2004, the SEC concluded that the rule was not "necessary to prevent manipulation." It then eliminated the rule in July 2007, taking off the books a safeguard that had been in place since 1938.

Volatility showed up almost immediately. Less than two months after the SEC crossed off the rule, Muriel Siebert wrote in the New York Times, "We've never seen volatility like this. We're watching history being made. The S.E.C. took away the short-sale rule and when the markets were falling, institutional investors just pounded stocks because they didn't need an uptick."

thegreatgate · #8 03-19-2009, 10:59 AM

First 15 minutes of trading: FAS at $7.80
Second 15 minutes of trading got down to $6.65
EDIT: third 15 minutes of trading down to $6.40
EDIT: fourth 15 minutes of trading: $6.92

I would really appreciate another + close but we are overdue for a down day or two

fz4fun · #9 03-22-2009, 11:40 PM

Quote:

Originally Posted by thegreatgate

First 15 minutes of trading: FAS at $7.80
Second 15 minutes of trading got down to $6.65
EDIT: third 15 minutes of trading down to $6.40
EDIT: fourth 15 minutes of trading: $6.92

I would really appreciate another + close but we are overdue for a down day or two

Missed my exit point at 7 or so at open-it dropped so far back-could have bought back in at my original price (think I would have learned that by now) Should have at least sold 1/2 my position and took money off table-"What a fool believes"

There's always tomorrow

**Aufan 1983** · #10 03-23-2009, 08:06 AM

Quote:

Originally Posted by fz4fun

Missed my exit point at 7 or so at open-it dropped so far back-could have bought back in at my original price (think I would have learned that by now) Should have at least sold 1/2 my position and took money off table-"What a fool believes"

There's always tomorrow

Already up over a buck and we are still an hour away from the opening of the premarket. Going to be a huge upswing today!!!