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Direxion Daily Financial Bear 3X ETF Message Board

  • guy1976cr guy1976cr May 4, 2009 9:11 PM Flag

    Only 10% drop in Financial shares


    will take FAZ over $8.20 from this point.

    This is a sweet entry. The largest holding is JPM.
    JPM is trading at $35+ right now and it was $14+ just 2 months ago. That is more than double and only $15 away from its 12 month high.

    For FAZ to go down another 30%, JPM would have to run to $38+ and that would represent $1.80 on FAZ shares.
    Flip it upside down and have JPM go down to $32 (was there today) and FAZ goes to $8.30. If JPM goes down to $30, FAZ goes to $11.

    So anything is possible here. Just give it a few one directional moves. The moves down were all one directional so I expect similar action on the way up fairly soon as this low volume rally turns into correction.

    Just don't overstay your welcome.

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31.36-0.04(-0.13%)Oct 21 8:00 PMEDT