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Direxion Daily Financial Bear 3x Shares FAZ

The Fund seeks daily investment results before fees and expenses of 300% of the inverse or opposite of the daily performance of the Index. The Fund does not seek to achieve its stated investment objective for a period of time different than a trading day. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse or short leveraged exposure to the index equal to at least 80% of the funds net assets (plus borrowing for investment purposes). The index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large-capitalization U.S. equity market. It is non-diversified.


ARCA:FAZ - Post by User

Direxion Daily Financial Bear 3x Shares
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Post by Stocksnchartson May 07, 2010 2:44am
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Post# 17073134

A day for the history books!

A day for the history books!The financial system as we used to know it ended today.  This is what happens when there are no real buyers for stock only computers trading against themselves.  A black hole...  The selling that started this crash was real. 

Oh the Fed etc will have explanations for today, and they will do everything possible to settle things down.  The damage is done, it will never be the same, and this is just the start.  This will be one wild year.

Hit my $16 target but ironically I was out of FAZ when it happened!  I'm glad since the market wasn't even tradeable for the last hour.  I'll let the computers settle down for a bit here.  This kind of thing could cause a major short squeeze too so don't be surprised if FAZ comes back down a lot.

SC  

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