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Direxion Daily Financial Bear 3X ETF Message Board

  • jrzbiz jrzbiz Mar 17, 2009 4:53 PM Flag

    As soon as the selloff begins, it will

    be so bad the markets will drop 500 points in one day, as people bail to safety again. Financials are way overbought here. Every analyst keep saying that there are major writedowns still coming and earnings will be horrid. I would not want to be holding a financial stock long with that on the horizon. I moved all my 401k into money market today to protect what I made back on this cheap rally of hope.

    FAZ can go up $30 in one session. Just gotta be patient. Been burned trying to flip back and forth. I'm playing April 50 and 55 calls. There will be enough bad news out from banks by then and FAZ will be probably $60 or more.

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