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Direxion Daily Financial Bear 3X Shares Message Board

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  • pentium_six pentium_six Apr 10, 2009 3:03 AM Flag

    I think FAZ can hit 13.00-14.00 on Monday

    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

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    • 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 ??

    • 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.

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

 
FAZ
17.75-0.06(-0.34%)Jul 11 4:00 PMEDT

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