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Direxion Daily Emrg Mkts Bear 3X ETF Message Board

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  • cmegladon cmegladon Jun 21, 2010 5:49 PM Flag

    Mw Software alerted me this after the close

    I see $44 as next stop, possibly $46. I don't see $56 until after August-Sept. But obviously, I'm far more bearish than bullish.
    The new housing starts will be attrocious. The tax credit ran out on contracts signed April 30th and close by June 30th. But remember, the index for new housing starts is counted by the "signed contract" date, not closing. So new housing starts should drop precipitously.
    Sales of "existing" homes are based on closing dates. Those will drop too, but not until next months numbers are out. IMO of course.

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