24 January 2009
Fozzie's Back in the Portfolio
Fozzie (FAZ) returned for another visit to the portfolio on Friday. I sold him out on the 20th for $82.87, but brought him back in from the cold for an average cost of $61.92.
Below is a chart for FAZ. You should note how popular this 3X-levered offering has become over the last eight trading days. It's also showing some intriguing volatility, enticing to the short-term trader. Its inverse ETF, the 3X Bull Financials (FAS) is also trading quite heavily as of late. I'll write here if I find the right opportunity to swing trade it, but for now, I'm still more comfortable putting money on the short side, even considering how low the financials have fallen.
Posted by WershovenistPig at 10:32 PM