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Direxion Daily Financial Bear 3X ETF Message Board

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  • tonyforgoog tonyforgoog May 8, 2009 6:51 PM Flag

    Prepare for another 50% haircut next week

    I was busy whole day today..
    but from looking at the price action on some big names, the rate of rising has slowed. If funds are buying, you will see double digit gain across the board.. My feeling is, we are close to the end of the runs. I don't expect huge pullback but at least I don't see a lot more upside on the mkt from here.

    Funds will still buy but u should ask yourself at what price u are willing to pay. Market is smart and u can see how Tech rises today.. Growth scenarios are built-in at this point. if Q2 they don't grow, we will see them fall hard.

    Financial is however trickier as they can make a lot of $ from lending.. the question is how much more will they lend to make PPS justifiable.

 
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