RE: TodayI see an awful bunch of predicting going on here. Most of it quite logical IF we were in normal times. I'm sure that many of you who subscribe to cable television are well aware, we're NOT in normal times AT ALL!
The government has many tricks in their bag yet and will be happy to pull a few out if needed to prevent another capitulation style sell off for as long as they can. This WILL render your t.a. useless as it has countless time as of late.
I know of some who gobbled up many FAZ @ $15-20.00 because of the same reasons you mention here. They were right with their t.a. also but were quickly burned (some quite badly as i remember) because government decided that it was a good time to pull another one out of their hat and save the day once again.
Holding a few FAZ to hedge yourself is for sure a good idea, BUT don't bet the rent money on it and DON'T loose any sleep because of it either.
I trade FAS/FAZ daily...every day. I always wait until morning to see direction before trading either and i am successful 9 times out of 10.....consistantly.
I wish the happiest trading to all but i think alot of good effort here regarding t.a. is utterly useless as we are now....and will be for some time controlled by upper authorities......period.
Happy Careful Trading to all.
Cheers!