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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 May 26, 2010 11:28am
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Post# 17132265

Rally

RallyS&P hit my target yesterday but FAZ barely made it over Friday's high.  That was a sign things were turning as the banks lead both up and down.  So markets may rally a bit short term, but the big picture is still down.  Could see a pop later today to high 15s low 16's for an exit. 

I want to see if markets can rally to the 200 day MA.  My felling is it will be rejected on the first try leading to a selloff.  So one could pick up FAZ around that time.  $14.50 might be about right.

SC   
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Dealroom for high-potential pre-IPO opportunities