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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 Oct 19, 2010 11:47pm
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Post# 17585802

Still some time

Still some timeLast week banks were weak with the S&P holding relatively strong.  Last week the banks were signalling, in advance, the drop in S&P today.  Today the banks made higher lows and that has been the case over the last 3 trading sessions.  This is in contrast to S&P which is making lower lows.

What it means is that banks were leading down last week and now are leading up.  We have more to go in this rally but we are very near the end.  I'm estimating that this rally ends in about a week and a half.   

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