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Direxion Daily Technology Bear 3X ETF Message Board

  • eazyon eazyon Jan 15, 2013 10:13 AM Flag

    This is a 3X tech bear?

    Apple is falling off the cliff and this thing is not moving? Why

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    • TECS tracks $IXT (AMEX Tech Sector).

      Actually, TECS hit a bottom on Sept 21 at $7.56 and a second bottom (so far) on 1/2 at $8.44 which technically set up a large rising channel while all other 3x bear etf's continued to fall further. I suspect all of the AAPL hype that you heard today were from traders who risked buying near $500.00 support, then got badly scalped with the gap lower yesterday. The hype of a bottom will give them the chance to get out of their trade. AAPL did not put in a daily candle yesterday that would support a bottom. The $510.00 area should be resistance on the hourly chart.


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