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 Jul 19, 2011 11:22am

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Post# 18846851

RE: SC, 200 day support for FAZ?

Basically I agree with your overall view.

The 200 is useful but price will gyrate around it so it acts as a loose support (not precise). I do see FAZ dipping to around $45 or so next 3-4 days on debt ceiling announcement and associated optimism. However, the trend for FAZ remains up into Aug 10-11 from my cycle work.

Aug 10-11 seems to be where FAZ tops out, with a spike in fear. I suspect Greece default, but major negative news of some sort.

SC

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