Replies to post #14434 on Direxion Daily Financial Bear 3X Shares (FAZ)

[Porgie Tirebiter]

Of course FAZ will get to $33, it's a mathematical certainty. It would probably take only about 760 on the index to do it this week, 740 to 750 to do it a month from now.

The last time FAZ went below $33 (pre-split) was back in August 2009 when the index went above 650. FAZ has never recovered anything close to it's value from that time. Even when the index hit 610 on the Oct. 3 low spike, FAZ never got above $16.40 pre-split.

Remember, both FAZ and FAS are designed to lose value against the index they track.

http://stockcharts.com/h-sc/ui?s=$rifin

[Porgie Tirebiter]

RIFIN will be in the mid 740s today and FAZ will go below $33, a little sooner than I had calculated.

And RIFIN is still below the 200 day moving average.