Fuck you, FAS, fuck you.

March 11, 2009 at 8:06 am (Money & Investing)

As a lot of my readers know I like to tinker in the stock market. I make a little bit here, lose a little bit there, and overall have been trending slowly downwards in hopes that it will teach me to be be better at it so I can make some good money.

Today I feel absolutely fucked over and violated though.
FAS was absolutely poised to make me some good cash today. All the signs pointed to it going up. It’s an ETF fund that revolves around banking, and banks, especially Citi, have started posting actual profits for this year.
So I bought it this morning at $4.11 per share, 214 shares. And told TradeKing to automatically set a stop at $3.80 in case something backfires and another bad news reports comes out or something – that way if it suddenly bombs, I won’t lose any more than that.

*however*, less than 10 minutes after the purchase, it dropped to exactly $3.80, and then jumped right back up again. It triggered my stop, causing me to lose 8% on a day when I should be making a fucking killing.
In retrospect I probably set the stop too tight – I knew this fund jumped all over the place, I just didn’t expect it to do it *that* badly.
Thankfully I’m playing with so little money right now that 8% was less than $80, but still, that’s a pretty big blow, and will make it all that much harder to catch back up again, and since this “rally” with FAS will probably be short lived, I’ll miss out on the whole thing since I can’t trade again until Monday.

Fuck you, FAS. Fuck you.


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