Leveraged ETF’s Weigh Bank Preferred Redemptions

The triple-leverage financial ETFs of Direxion Daily Financial Bull 3X Shares (NYSE: FAS) and Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) are getting to deal with yet another potential wrench in the machine: preferred share redemptions from major banks. 
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NYSE:FAS May 28, 2009 1:07pm

Financial ETFs Show The Trouble With Trading Ranges

My old friend, Michael, has been watching the rally for signs of exhaustion or continuation with an eye on trading Direxion’s 3x/-3x financial sector ETFs, symbols FAS and FAZ respectively. Last Friday, he wrote about FAS that it “looks like
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NYSE:FAS May 20, 2009 12:19pm

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