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Direxion Daily Financial Bear 3X ETF Message Board

  • pentium_six pentium_six Apr 10, 2009 2:49 AM Flag

    I think FAZ can hit 13.00-14.00 on Monday

    Let's say FAZ run to 13.80 on monday

    Goldman Sachs earnings comes out on tuesday and no one react on it.. no buyers

    remember today's big 35%-41% pop are mostly short covering.. most of the shorts already covered

    this market going to need lots of new buyers with deep pockets willing to pay for these higher prices.. you know fund managers never buy at the high

    So who's going to buy after thursday short covering ??

    if no buyers.. bank stocks goes back down

    Tuesday FAZ 13.80
    no buyers bidding up WFC, GS, BAC
    you see people cashing in their chips

    You probably see FAZ run from 13.80 to 17.25-18.00 on Tuesday

    If there's some buyers on tuesday for bank stocks.. FAZ 13.80 falls back to 12.00-13.00

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I sort of agree. The huge short squeeze in financials drove prices up artificially high. Normally, you would think profit taking and lower demand (for overpriced shares) would form a correction. But, obviously, investors might be dumb enough to keep buying. You can't discount the stupidity factor.

    • constructionmortgagemoney constructionmortgagemoney Apr 10, 2009 5:24 AM Flag

      Your a friggin idiot!! I think my dick will be 15 inches long by next tuesday..a s s h o l e

    • disagreed. today's rally is a genuine amateur's sucker rally. financial rally in particular NOT caused by short covering. there was almost ZERO short interest in top banks after Wednesday. look at the FAZ opening price, it's already 22% down to start the day. the big guys knew the WFC announcement beforehand and set the tone early. top of that, the job number was better and so was the retail number. still, 40% hair cut is quite unusual even for 3x ETF. i leave that part to a market genius.

      i think 13.50 is the max on Monday. i wouldn't be surprised if FAZ close around 11 or less with GS earnings following morning. anyway it's gonna be another wild day for FAZ next week. no dull moment in FAZ for sure.

      • 1 Reply to utnereader2
      • You need to look at the upside & downside

        for FAS to keep running sky high

        you need WFC continue to skyrocket
        you need JPM to continue to skyrocket
        you need GS to go up
        you need BAC to run

        (major resistance level)
        JPM maximum upside 35.00
        WFC maximum upside 21.00
        BAC maximum upside 10.00-11.00
        GS maximum upside 130.00

        If you wishing FAZ to fall to 5.00
        you going to need
        JPM run to 45.00
        WFC run to 30.00
        BAC run to 15.00
        GS run to 160.00

        obviously is not going to happen

        one thing you know FAZ 5.00 won't happen
        FAZ 9.00-10.00 that's possible
        FAZ 8.00 very difficult to get there
        FAZ 7.00 close to zero

        I can estimate the approximate downside for FAZ

    • Maybe a small pull back for FAZ on Monday, but from then on down again: Single digits coming!

    • Tuesday .. DOW 7733
      Thursday .. DOW close to 8083 (up 350 points)

      Did you see WFC action for the entire day ?
      hanging around 17.80-18.50 for whole day

      DOW +160 to +200 for whole day until the last hour
      last hour .. DOW +250

      that's when WFC go from 18.30 to 19.60

      WFC 19.27 afterhour
      WFC falls back to 17.80-18.30 on monday
      WFC 18.00 = 8% pullback from 19.60

      FAZ can easily hit 13.00-14.00 on monday

      • 3 Replies to pentium_six
      • Again, I wish you good luck, not ill-will. I think your chances of making money is a lot higher buying FAS in the 8s and selling in the low teens, than watching FAZ go to single digits.

        Why not take what the market is giving you? We're headed to SPY 920-950 before the MMs pull the rug under from the suckers who got in late. You still have a chance to make money on FAS/XLF/UYG, don't play the short side. They are going to destroy what's left of the shorts next week heading into Opex.

        This is not Oct/Nov '08, or Feb '09. FAZ/SKF are finished, kaput. And even when it's time to go short, they will be so low that they will never, ever see anyting near their previos highs.

        Again, just some friendly advice. I got caught on the wrong side of the trade and lost a lot of money last year, and now have made it all back. So, I know how it feels when you're fightin the trend, it's pretty ugly.

        Just buy something long as a hedge. Good luck to you.

      • Tuesday .. DOW 7733
        Thursday .. DOW close to 8083 (up 350 points)

        Did you see WFC action for the entire day ?
        hanging around 17.80-18.50 for whole day

        DOW +160 to +200 for whole day until the last hour
        last hour .. DOW +250

        that's when WFC go from 18.30 to 19.60

        WFC 19.27 afterhour
        WFC falls back to 17.80-18.30 on monday
        WFC 18.00 = 8% pullback from 19.60

        FAZ can easily hit 13.00-14.00 on monday

        ...........................................

        Let's not forget .. if Goldman Sachs doesn't run on tuesday's earnings.. it's almost guaranteed you see a big selloff in GS, WFC, BAC, and etc.,

        thursday
        >> major short covering FAS up 41% in one day
        >> wells fargo up 32% in one day

        who's going to buy on tuesday ??

      • If you were to live 246,000,000,000,000 centuries, you wouldnt see FAZ reach 13. Wait and see.

    • And Citibank waits, crouching behind the rock wall, snare is set, as the cute little bunny approaches the trap.

      • 1 Reply to CosmicHemorroid
      • You need to look at the upside & downside

        for FAS to keep running sky high

        you need WFC continue to skyrocket
        you need JPM to continue to skyrocket
        you need GS to go up
        you need BAC to run

        (major resistance level)
        JPM maximum upside 35.00
        WFC maximum upside 21.00
        BAC maximum upside 10.00-11.00
        GS maximum upside 130.00

        If you wishing FAZ to fall to 5.00
        you going to need
        JPM run to 45.00
        WFC run to 30.00
        BAC run to 15.00
        GS run to 160.00

        obviously is not going to happen

    • Denial is a terrible thing. But after what happened today, I don't blame you. You must still be in shock. FAZ headed to single digits next week, and SKF is not far behind.

 
FAZ
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