SOLD -59 FAS @7.90

I sold my FAS at a loss! This is a horrible trade indeed because I've let my profit turn into a lost! I considered waiting for the bounce, but looking at the VIX, we haven't reached capitulation yet. So there could be some more downside before any rally can occur. But 810 on the S&P500 seem to be holding so far. We'll see how the day plays out.

From now on, I'm only going to day trade these leveraged ETF's. There is just too much working against them to hold overnight.

[caption id="attachment_1079" align="aligncenter" width="500" caption="3X Financials ETF"]3X Financials ETF[/caption]

[caption id="attachment_1080" align="aligncenter" width="500" caption="VIX"]VIX[/caption]