FAS - FAZ : 3X ETF Russell 1K Financial Services Shares Bull - Bear

[KK_KK]

5-10 seconds after i said to "die," it died... HA!

[i_am_so_siri]

Originally Posted by KK_KK

die FAS die!

i could go for that.

[kingtime]

december FAZ calls are starting to look really good here... will be buying soon

[BWrong]

After 5-6 days in a row, the Dow had to fall. FAZ was up a bit today. In at 18.85, out at 19.53

I'll now be long every day the Dow is down and take the scalps

[StockJock-e]

FAZ in play gents!



I guess that chart is useless at the moment, but the banks are selling here from the highs.

[i_am_so_siri]

i went with fas/gs puts.

[StockJock-e]

Coming up on $20 again

[BWrong]

I had 500 FAZ shares at 19.20 as I got caught high for 2 days, sold today.

I had a feeling the market would pull back, it was up big the past few weeks on, really, nothing. Might short FAZ if market climbs back up later but doesn't look likely.

[skwerl]

Bad news for those of us playing these ETFs on margin. I just got an email from TDA stating that effective Dec. 1 the margin requirements are being increased exponentially for all double and triple leveraged ETFs. Here's the full content of the email I received:

Dear Valued Client,

We want to let you know that effective December 1, 2009, the Financial Industry Regulatory Authority (FINRA) is implementing increased customer margin requirements for leveraged Exchange Traded Funds (ETFs). FINRA believes these higher margin levels are necessary in view of the increased volatility of leveraged ETFs compared with their non-leveraged counterparts.

In response to these mandatory regulatory revisions, TD AMERITRADE has decided to make the following changes to our margin requirements:

Effective December 1, TD AMERITRADE is increasing the maintenance margin requirements for leveraged ETFs and associated uncovered options by a factor proportionate to their leverage (for example, 2X or 3X).
We will change our margin requirements to 60% for double-leveraged ETFs and 90% for triple-leveraged ETFs.
Uncovered short options will have a margin requirement increase to 60% or 90%, based on the leverage factor of the underlying security. The base requirement for naked options will be modified to correspond with the equity margin requirement.
You will be limited to regular buying power (not day trading buying power) for any opening trades in leveraged ETFs.
As a result of these new margin requirements, if you hold a position in a leveraged ETF, or an option overlying a leveraged ETF, overnight on November 30, you may be at an increased risk of receiving a margin call on the morning of December 1, after these new changes have gone into effect. We urge you to monitor such a position closely. Otherwise, no action is required on your part.

If you have any questions about these new requirements, please call a Client Services representative at 800-669-3900. We're available 24 hours a day, seven days a week.

This means that I'm going to have to abandon most of my current double-short position at a substantial loss even though I'm currently gaining about $1000 per month on the decay. Looks like I need to get on the phone with them quick and find out exactly how much liquidity I need.

[imsabah]