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Direxion Daily Financial Bear 3X ETF Message Board

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  • pentium_six pentium_six Apr 30, 2009 5:04 PM Flag

    Made a modest $800 and happy!

    You can only trade FAS & FAZ if Wall Street keeps the bank stocks in a 1.00-3.00 trading range.

    You know the market went up 7 weeks in a row. I really doubt they can keep doing this week after week. As you can see less and less people are buying JPM at these price 33.00-35.00
    Today.. you see JPM in the 32.00 range

    It's showing signs of technical breakdown and overbought territory.

    If they can keep JPM at a range of 30.00-35.00 for another 7 weeks.. Yes, it makes sense to daytrade FAS & FAZ back and forth. My gut feeling tells me JPM is about to break down and it could fall all the way to 25.00-27.00

    JPM around 30.00

    FAZ probably trade around 11.00-13.00


    Let's say Wall Street decided to tank the market next month and do a 3 or 4 down weeks.

    JPM tank to low 20s
    WFC down to 12.00-13.00
    and so on.,

    FAZ most likely will run to ($25.00-$30.00)

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

    if they keep doing this trading range for 2 or 3 weeks.. both FAS & FAZ will decay to $5.00-$6.00

    THE QUESTION NOW IS DO YOU THINK THEY CAN HOLD JPM AT $30.00-$35.00 FOR ANOTHER 2 to 3 weeks ??

    up 7 weeks already
    up another 2 weeks .. up 9 weeks in a row


    i doubt it

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