I'm back in FAS at 14:55 today. Today's market is almost the exact inverse of yesterday. I watched it climbed up steadily. When it tested the 820 and held with good internals, I decided to re-enter FAS.
I watched FAS broke 8.70 and then 8.80. It backed off a little but held above 8.60, so I entered FAS when it breaks 8.80 again. My stop was set at 8.50. FAS climbed throughout the last hour. I decided to hold on to it even though it tested 10. That is because of the high volume going into the close and it didn't look like it's losing any steam.
This is a good entry because I was patience and waited for the market to show strength and then further waited for FAS to break resistance before entering. Sure, I didn't get in at the bottom, but since I was stopped out a couple of times already, I wanted to wait for good confirmations before getting back into the game.
[caption id="attachment_1074" align="aligncenter" width="500" caption="S&P 500 intraday"][/caption]
[caption id="attachment_1075" align="aligncenter" width="500" caption="3X Financials"][/caption]