Held my FAZ despite getting whacked yesterday... if anything, yesterday taught me that averaging in is the best way. had i done so, then i would have bought another block yesterday, but alas i was basically all in on monday.
today, we may find a reversal back to the bulls favor. it seems as though whenever Obama speaks, things never turn out. But if Ben speaks then the bulls clamor for a trade...
S&P has a few areas pointed out by iBankcoin & Tim...
As for my co-worker (i'll call him #2), i was surprised he didnt want to hold at least some of his FAZ. If anything i told him had he bought some underlying puts then that would have offset his loses for the day or even make him profitable. Alas, he is still gunshy and having been a 'victim' of the dot com bubble it is understandable. Fight another day... Fine, but this market is so volitile, he may regret having sold ALL of his FAZ & SRS...
We shall see if the bulls can win another day...
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