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 Oct 03, 2011 12:47pm

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Post# 19111977

Slope of hope

Whereas last week was favourable to the bulls (as I pointed out last weekend) with European optimism, this week the bears have a lot of advantages.

-Notice how for the last few days we are seeing these quick sharp rally attempts - this is bearish. It's a "slope of hope" situation on a short term basis. The hope fuels further downside.

-NDX - nasdaq underperforming now. This was not the case in all of Sept.

-Similarly both small caps RUT, and Financials have taken out the early Aug lows.

-Oct traditionally weak.

-My cycle work is bearish for this week.

-Etc..

So on a short term basis there is very likely some downside from here. However, I expect to see a bottom in the first half of Oct, and rally from there. Bears need to be nimble here imo.

SC

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