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Through the Looking Glass: Daytrade Charade

|Includes: Direxion Daily Financial Bull 3x Shares ETF (FAS), SKF

Today I spent most of the day staring at the FAS 30min chart. Oddly, visions of SKF came pouring into my head. Short the market, is that what you think I’m thinking? Save that for the donks. Those are the only people trying to short the market or continuing the daytrade charade of SRS and SKF. You touch these two you show how green you are. If you run big money, or someone else’s, and you touch these broken downward parabolic tools of wealth destruction you should be castrated. Ok, castration is harsh. How about forced to have acupuncture administered to you by a rheumatoid arthritic?

I’m reminiscing of a formerly virile SKF. When 10 point moves were considered part of the normal range? 2008 was 1999 in reverse. Inverse ETFs are all your no longer here Nasdaq names of the year of the Artist Formerly Known as Price who is now once again known as Prince. FAS is the hardcore daytrading crack for those who just can’t get enough from their local meth lab who is dealing AIG shares on every corner. A diluted meth is as good as no meth. I’ve long said that until FAS has a monstrous upside day that ends heavily negative, that the FAS train should be boarded on dips. Looking at the 1/2 hour has me envisioning a runaway train that goes Express similar to the D line in NYC from 80th Street to….125th Street. If the train travels below 66th Street get off. My thinking is FAS to 120 at least…walk the last five blocks if you must.