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 Dec 29, 2010 2:36pm

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Post# 17902794

RE: Limp Greenback

There is a large bearish wedge that has formed on $rifin since Dec 13th. We are near the tip now just rattling around and that is one reason why things are slow. I thought this might bust overnight with a gap down, but instead we are just consolidating one more day. Tested the support a few times today. So I think we should see that gap down for mkts tonight, and FAZ up.

The wedge should make for a powerful move when it breaks.

SC

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