monthly and 2-day period chartsof BAC below with notes. i posted FAZ as a quick pullback trade on monday but i am considering selling my FAZ long on the next target hit and entering a FAS short for a potential longer-term trade.  remember that the leveraged etf’s, in particular the 3x leveraged etf’s from volatile sectors like the financials, are highly prone to price decay over time.  therefore, one should consider using an XLF short or possibly SKF (2x short financial etf) long if you plan to be in the trade for more than a few days.  a short of FAS (3x long) could offer price decay in addition to the decline in the index, should the trade morph into a successful multi-week or month swing trade.  as always, make sure that you adjust your position size for the amount of leverage used when trading etf’s as well as any additional beta (volatility in the sector vs. the broad market).  of course, a pure play here would be a short of BAC with appropriate stops somewhat above the downtrend line on this 2-day chart.  i plan on looking at the rest of the financials and will post any other charts of interest.