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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 Aug 27, 2010 12:28pm
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Post# 17389950

Market has spoken

Market has spokenSold off a little on Bernanke, and now mkt rallying strongly.  I had mentioned earlier that there were 2 short term scenarios.  Either strong rally starts today or we see some choppy trading before the strong rally kicks off around Tues/Wed next week.  

I'm still watching for the mkt to tip it's hand on which scenario it is.  I'm leaning quite strongly towards the big rally kicking off right here today.  However, I have not seen enough yet to confirm that.  In either case we should test high $18's for FAS today.  I had mentioned yesterday that we should test that level today.  I believe we will test that, and if the big rally is kicking off now, then we won't see much pullback off those levels.

So if this is the start of the rally, then we rally sharply to Sept 1 then pullback before another major rally.  In this case my target is $22.50 for FAS by or on Sept 1.

SC    
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