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Direxion Daily Financial Bear 3X ETF Message Board

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  • reneew97 reneew97 Sep 23, 2009 12:20 PM Flag

    Mathematical impossible for FAZ to ever see 30 again!

    No not exactly.

    Think of it this way, if it goes down 50% it must go back up 100% to get back to even. So the index it tracks goes up 20%, that index must come down 40% just for FAZ to get back to where it was.

    For this reason as soon as the market cracks I will short FAS and close faz. I am in FAZ at 20.33 so no worries yet.

30.57-0.66(-2.11%)Aug 30 4:00 PMEDT