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 Jan 06, 2011 1:41am

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Post# 17931415

FAS off limits for me

The mkt has pushed up too much (and too much time has passed) to consider taking a position in FAS on any pullback. I don't trust dips anymore. The chance was there last week for a significant mkt selloff, but the low volumes just resulted in sideways action instead. I said if I didn't like the mkt action, I would confirm that FAS was off limts. Confirmed.

Time is up Jan 5 for this mkt by multiple cycles and patterns.

Fibonacci cluster:

233 Fib hours Jan 5 from Aug 31 bottom, Nov 16 bottom was 144 Fib hours from Aug 31 bottom
34 Jan 5 Fib day from Nov 16 bottom
161.8% Fib hit Jan 4 and retested Jan 5 of S&P Nov 16 bottom
Also hitting some important Fib fans

Also equal time cycle for $rifin April high to Aug bottom and Aug bottom to Jan 5.

I think we are very very close to the big turn. Holding FAZ tight.

SC

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