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 Jul 13, 2011 1:10am

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Post# 18825531

Target hit

FAZ $47 target I mentioned hit. Took profits on shorts. I am going long S&P for a trade as I see a strong bounce coming to 1340-50, will reshort there. I see S&P declining after this bounce later in the month to 1290-95 or so.

Shorting precious metals heavily - both Gold and Silver look very bearish short term. Looking for $1300 gold next few weeks, $28 or so for Silver.

SC

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