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FAZ / FAS Charts: Nice 5 Day run for FAZ........hitting Middle Bollinger Band resistance.........Hanging Man Candlestick pattern formed on Friday........a Hammer formed after a 5 day run signals a temporary top.........the Ukraine conflict put pressure on the Financial Sector.......the general consensus is the conflict has already been priced in.........Looking for FAS to make a Bullish move next week & bounce off MA(20)/Middle Bollinger Band support.......MA(50) is just below............if FAZ forms candles above the Middle BB it will signal the start of a bearish uptrend and more downside risk for the Financial Sector...........$$$
Could be more Washington antics and theatre ahead as we approach the next "deadline" of 01/15/14. New 52 week high on 12/02/13. Could see a healthy consolidation of large gains over last two years possibly setting up for a good buying opportunity in the early part of the new year....Shall see....
It's kind of surprising to see FAS remaining essentially level with all the budget turmoil going on in Washington.
If Congress can reach some sort of agreement, maybe a new pop in price for FAS??
It's been an unbelievable run thus far.
Despite the decay factor FAS continues to set new all time highs.
FAS closed near HOD...Financials up today
Faz up 2.31% Fas down 2.10% Seems about right.
Volatility. The VIX was up 10% during the day and then closed back down around where it had opened.
RIFIN fell during the first half of the day, while volatility was spiking. Volatility rising makes the value of the swaps in FAZ rise. The big players bid up the value of the swaps looking for insurance.
FAS and FAS are hedge plays. They each have their own bid-ask and can be moved independently of the underlying RIFIN index depending on demand.
This morning they will be adjusted to reflect 3X on the RIFIN. But fast moving volatility can certainly make them move independently of each other.
Funny...FAZ down .0531 FAS down .08 Weird!!!
Hey Bud... Have you been trading this one for a while ? Im new to it and want to learn there patterns. The options on these are Saweett!!! I made a fast 25% on a put today... so I want to learn how these move, patterns, trends etc etc
Thanks Man, Apprichate any reply
Hoping to 4 dividends soon
FAS at $53++ looks Funny compared to the $160's
3 for 1 forward split. Were getting back to 08/09 levels. The Let's start the dividends and we're off again.
FAZ 1 for 4. Makes FAS look much better!
Here is the news directly from Direxion:
http://www.direxionfunds.com/press-release/share-splits-of-16-etfs
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Welcome
The key word to remember here is DAILY.
FAS/FAZ are not intended as an investment, but as a trading tool designed to reflect the DAILY moves of the Russell 1000 Financial_Services Index X3.
Historic Develpments for FAS from Direxion
Forward Split for 5 Direxion Bull ETFs
FAS included in Dividend Distribution
Each day Direxion publishes the current makeup of this ETF: http://www.direxionshares.com/holdings_fas.csv
Link To Direxion's FAS fact sheet: www.direxionshares.com/pdfs/Financials_Bull-Bear_Fact_Sheet.pdf
Link to fact sheet regarding Russell 1000 Financial_Services Index: www.russell.com/indexes/PDF/fact_sheets/US/1000Financialservices.pdf
Link to Prospectus: direxionshares.onlineprospectus.net/direxionshares/FAS/index.html
Link to Summary Prospectus: direxionshares.onlineprospectus.net/direxionshares/FAS/index.html
Link to Russell 1000 Financial Index (RIFIN) chart
Link to Dow Jones US Financials
It is important to understand the unique characteristics of leveraged ETFs, and in particular Triple Leveraged ETFs.
While these funds are designed to reflect a daily 3X change in the underlying assets, It is important to understand that over an extended period of time a leveraged fund may actually UNDERPERFORM the underlying assets represented!
Important Reading:
www.direxionshares.com/pdfs/DS_Paper_011210.pdf
www.finra.org/Investors/ProtectYourself/InvestorAlerts/MutualFunds/P119778
Good video:
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