Direxion Daily MSCI Brazil Bull 2X Shares (BRZU)

[THREE-DAY-TRADER]

I know. I have traded the BRZS in the past. It is another nice 3x trade tool that will be missed (they eliminated the GASX, too, unfortunately).
I'm preparing to buy BRZU; for Scale-in strategy.
I think huge potential here developing. It has been even more sold off than the RUSL (Russian Bull) relative to recent highs, yet Russia has the sanction issues hurting it while Brazil does not.
Also I think Brazil is the most oversold emerging market & should be a reason why people should have BRZU on their Buy List soon.
As of today's close on October 1, BRZU is -21.5% below its 9 Day (EMA) average!! So people should realize that is unusually oversold.


I am only concerned about the unknown for Sunday (Oct 5th), which is the election in Brazil. Anything can happen with that in front of it and going long is thus risky because of that. I do think, however, that the market is pricing in the Dilma win already & the sell-off has already crossed over reaction levels of possible insanity, so buying soon for scale-in start might prove very wise.
I see potential the next 2 days for a drop yet leading up to the election this weekend, and if it does, it is almost certainly a Buy if it gets any lower after today's 14.92 low. I think keeping in mind the all-time low (& 1 yr low) of 12 area--- that should likely serve as support so we likely are not far away. And even if it drops below 12 support I think it should be bought there as part of a scale-in protocol contingency.
Overall in any event, any buy near 15 or less should prove profitable eventually. I think a very quick short term bounce could easily recoil toward 18-19, and maybe in weeks to come during the 4th qtr it can easily move back toward 25+, maybe 30+.