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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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Comment by Stocksnchartson May 22, 2010 6:56pm
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Post# 17124754

RE: RE: For the Traders

RE: RE: For the TradersYes, the bankers are rotten.  Sit in american for now, then when we hit bottom convert your margin to CDN for the rally back up.  You can recoup somewhat that way.  There is plenty to be made over the next month trading.  While I do feel sorry for the retailers who bought at the top, this market sure is great for trading.

I would expect if any market rally happens on Monday morning that it would be contained by the 200 day MA which comes in at 1103 on the S&P or $rifin at 791.  It this happens then FAZ briefly would dip into the mid $14's.  I feel strongly that the 200 will be impossible to penetrate now.  So I expect FAZ to start moving back up early in the week.  Around $18.50 is my target for FAZ late next week with S&P hitting 1045 or so. 

Let's see how it works out.

SC  

    




 
   

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