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 24, 2011 3:09pm

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Post# 18619090

RE: RE: RE: Topping

Support was tested hard but did hold for Rifin today. I think we are going sideways choppy for the rest of the week. This high for FAZ will likely be tested a few times over the next 2 weeks.  So there isn't a big rush to sell, but I don't see any upside for FAZ either.  We hit $46 today which has been a longtime target for me.

The selloff happened early this week as anticipated and so this confirms I have mapped out the way the big plunge starts correctly.  I'll explain what happens next later - it took time to put this puzzle together - it's a shocker.

SC

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