Direxion Daily Financial Bear 3X Shares (FAZ)

[asdgwest]

FAS/FAZ chart. 11/04


FAZ: http://picasaweb.google.com/lh/photo/0IlB08yzQNg8s2_S6uZ6ww22gT1jL7MZxPG1A2D2xS0?feat=directlink

Today FAZ slightly pernerated down the support of long term downtredn channel 11.04 which was also the strong priceline support in April,2010. The year low was 10.78, but it was very brief in April 20.10

FAS:
http://picasaweb.google.com/lh/photo/sj5-etu2BNCGQxWIzf2h9Q22gT1jL7MZxPG1A2D2xS0?feat=directlink

Big selling before closing.

I bet, today, FAZ hit bottom, or if it goes down, it may briefly hit the bottom above 10.78~10.98 again.

Obama money didn't reach the market yet, the stock have been bought up anticipating the news. The Two month rally with hype may end and pull back to Fibo 38.2% at least which also collides with FAZ 12.79.