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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 Jul 15, 2010 11:22am
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Post# 17271583

RE: JPM impact on the market

RE: JPM impact on the marketYes, that makes sense for today, could see some serious whipsaws today with FAZ making big swings, the pattern I mentioned earlier needs more time today to develop.  Tomorrow is looking more like the day for the financials to fall apart.

I do agree when everyone is lined up on one side have to be a little cautious.  Earlier this week I had mentioned one possibility is we see a major pullback to S&P 1040-50 and then another sharp push up again.  Something like this is still possible, and that would shake out some bearishness.  Not sure if it will happen or not, we'll see.

Let's face it though fundamantals as so bad that we are not going to see everyone turn bullish right now.  There's not much to debate on the economic side.  Those looking for sentiments to turn extreme bullish before a turn will be miss the boat to short the mkt imo.

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