Took More from FAZ's Fat Fingers

It's been an abnormally long time since my last post. Sorry. I took a mini vacation and visited my brother in Ft. Lauderdale for his birthday. It had been a year and a half since my last full weekend off (excluding the mission trip to the Amazon this past summer). If you've been watching my Twitter feed to the right, you know what I've been trading lately. Little bit of this, little bit of FAZ (wow- what a horrible joke:) I actually went long FAZ this morning:

If you take a look at any chart of FAZ over the past week, it's pretty easy to make hindsight 20/20. Go from 50 to 100 in a short period of time- look for a correction- how bought back to 50? Emotionally, that kind of trade is a bit tougher to execute- especially if you watch every tick. FAS and FAZ are not for the light-hearted (could be the understatement of 2009).

As for my friends PALM and MAXY:

We'll start with longtime short, MAXY. Is it weird that I'm pulling for this stock? I mean, I'm still short- but I find myself actually hoping it will make a comeback! I guess that's the 'always pull for the underdog' sentiment in me. Anyway, I'm thinking about covering my remaining 100 shares in the next few days. Not that there's any great plays at the moment, but enough is enough- and there's nothing wrong with saving your capital for ideal situations. Here's the chart:

As for PALM, she sure has gotten feisty the last few days! I didn't listen to my own advise (wait til $7-$8 to re-short), and it's biting me a little. Not that I don't think it's headed back down toward $5 (already proved it could break $6 to the downside), but it could get interesting. I shorted 150 shares into strength yesterday (dumb), then averaged up today @ 7.55 (could be dumber). This stock was dead to me- and I should have waited for another supernova. But alas, I find myself short 250 shares avg. 6.97. Should be fun to watch!

Y'all had any memorable trades lately?

Evan

ps- If you'd like to see all my posts on FAZ, PALM, MAXY, etc.- just type the symbol in the search bar at the upper left of this page- the oldest posts are at the bottom.