Fas Bumping Up Against Resistence @6.00
Q: if shares decided to drop at premaket trade ..you guys think its a good buy..at opening trade?
A: or me, I was 50/50 last night and most of the week that they would make changes, but towards the end of the day I had to decide so I went with FAS at 3:59 $5.89 because I see more upside to this than down. I also kept some money on the side lines just incase either way. so you have to decide for yourself. I asked this question in SKF and FAS and got mixed answers and views...but more pro's think they will do at the very least some changes and that should be enough to make some good money tomorrow. but I could be wrong. yeah, I think FAS is cheap under $7 at this point. Look, if FAS doesn't hit $10 in the next month or two, that means the banks are not doing well, and that will mean this reccession will last a lot longer. I believe with all the monatary and fiscal policies that the gov't has done in the last several months will definitley help. Bernake and Geithner both have studied the Great Depression, they are doing everything in the book to prevent a deep reccession/depression. FAS/FAZ seem (at least to me) to be less about absolute price and more about daily movement. GTC entry orders therefore don't make a lot of sense, especially considering the decay (how can you be sure your order is filled because of a temporary pull-back and not just because of natural decay? seems iffy). Wouldn't it be easy (and safer) to monitor daily and place the order when you see FAS approaching your target? At least then you would be armed with current information, not just speculation. I'm a new trader, so take this with a very large grain of salt. Good luck!