Direxion Daily Russia Bear 3X (RUSS)

[THREE-DAY-TRADER]

I personally don't view an intra-day move of 6.90's to 7.20 a reversal signal.
It is an intra-day move reversal --- YES, but at the moment nothing more, other than a potential head fake to lure people to buy it and chase it.
I'm not saying certainly it is not going to reverse, but today's action isn't enough evidence. Still holding up prior lows for support, but 3x funds can easily break down and surprise people to the downside.

I'm preferring other stocks right now and will error on side of caution here with RUSS for the time being. See if it gets another good gap down to new lows.