FAS Update

The stock is setting up very well here. Although it is having some problems with the $24 level, the XLF looks as if it has the potential to really explode upwards through the $15 level (FAS is basically 3X leverage the percentage move in the XLF). The XLF is just above the 200-day moving average and I just don't think it will go/stay below this point again. It would not be a good sign for the sector if it did. The target on the XLF is $16. This is 6.66% from here. If it goes there, that would be approximately a 20% move in the FAS. This would equate to our $28 price target. We continue to hold. The computer is giving us an 80% success probability.