TZA - Finally got it...10,email@example.com here is why..
This is how it looks. Lets start from the 1074 "X" wave low Oct. 2011.
1422.49 April 2012 = "A" of next ABC, 1266.74 = "B", 1474.52 Sept./2012= "C" to complete the second abc up from 1074 low.
1343.34 low Nov./12 is second "X".
Then 1448 = "a", 1397.77 = "b", 1467.88 = 1:c, 51.59= 2:c, now completing 3:c, 4 of c back to 1467 to 1475 zone, then wave 5 up to 1540 area to complete the flat correctional leg...that big leg can be an "X" or a "B". The exact number of a true flat would be 1553 spx, but they are never exact. To get within 20 points on a leg of this size would be exceptional.
Then we get another abc down, or a powerful "C" down to 666 area.
I highly disagree that the S&P is going down to 666 any time soon. Maybe a correction to about the 1350-60 level this year. As a matter of fact I think short term the averages are going to continue to move up barring some major negative event. My prediction is TZA will be in the $9's sometime next week. If possible sell at the open and buy back in the high $9's. Although that isn't even going to be safe in these markets. Reverse splits coming soon. I know the averages look high but there is just to much money going into the market now. Doesn't matter what the economy does.
You cannot buy it back if you book a lost without a wash sale. They suck. SRTY is an option however. Maybe the better strategy is just hedge. Buy TNA in an equal dollar amount to TZA then sell TNA on the pullback and double down on the TZA.
My position is based on the E.W. wave theory, Puts and Calls against the S&P 500. Nothing with the Russel 2000. The position I took on TZA-Russel 2K is only as a dart of fun. I do see a tick possible tick up on Monday, but also high probability of resistance leading to a down wave. My information listed above is fact, and not fiction. My only intent was to help. Only time will tell who is right