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.

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Direxion Daily Financial Bear 3x Shares

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Comment by ellgaron Sep 05, 2010 7:27pm

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Post# 17416862

RE: Last week

Thanks for that. Just to clarify your theory, we are 2/3^rd into the rally from July 01/10, that should put the rally’s end (market collapse) in a few weeks or beginning of Oct 2010 and the SPX will rise to about 1158 at that time, 55 points above where it closed Friday. That’s not a big rally considering it’s over the next few weeks but a lift just the same, sounds like it will be choppy.

Please correct me if needed.

In the short term I’m glad you feel the SPX will fall to about 1077 in the next few trading days as I went a little short last Friday (against your suggestions, my mistake) I feel the market is overbought and needs a healthy relief/pullback .

I’m once again very impressed you nailed the rally last week as most of who I follow, as I, did not feel the move this far forward, and questioned the legitimacy of the reports coming out.

Thanks again for you input, it sounds very gloomy but better to have eyes wide open to every possibility.

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