Direxion Daily S&P Biotech Bear 3X Shares LABD:NYSE (LABD)

                                   How  To Beat Leveraged ETF Decay                                               What You Need To Know About The Decay Of Leveraged ETFs

                                              http://seekingalpha.com/article/1457061-how-to-beat-leveraged-etf-decay                                                                           http://seekingalpha.com/article/1864191-what-you-need-to-know-about-the-decay-of-leveraged-etfs

Strategy for Direxion Daily S&P Biotech Bear 3X Shares

The investment seeks daily investment results, before fees and expenses, of 300% of the inverse of the performance of the S&P Biotechnology Select Industry Index. The index is provided by Standard & Poor's and includes domestic companies from the biotechnology industry. The fund normally creates short positions by investing at least 80% of its assets in: swap agreements; options on securities and indices; forward contracts; short positions; reverse repurchase agreements; ETFs; and other financial instruments that, in combination, provide inverse leveraged and unleveraged exposure to the S&P Biotechnology Select Industry Index ("index"). It is non-diversified.

                       
LABD's Countepart is LABU