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Direxion Daily Financial Bear 3X ETF Message Board

  • jerrye1 jerrye1 May 2, 2009 3:22 PM Flag

    Faz 6.50=completes the downtrend.



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    • Personally I think we'll see a good spike this week to start a uptrend. If you look at all the indicators they show the downward momentum has stopped.

      • 1 Reply to ihawk38
      • faz should go into an abc structure now
        18 should complete A 14's should complete b
        and 24 ish should complete c

        the indexes appear ready to roll over into a C WAVE down as well. DEPENDS on how one is charting. we now have to wait and
        c how deep rifin goes because that independent of the market is very new like fas and faz and while we know the components of the index the fact that they are rut stocks and many of them thus are small caps i'd venture that in the true next correction of market that rifin index could theoretically be trading some place down in the 280 to 100's if not lower. so with all this in mind question is how fast all this happens and how faz prices going foreward.

        last DOWN wave for market the bear stuff priced higher than true value and led to massive gains on the upside. that probably happened because of short cover. it could happen this time and if it does my numbers and early counts could be way low for this.

    • probably after 18
      which is still technically
      a downtrend

      so are you waiting for 6.50
      or are you playing the bounce?

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