Rochester,NY 7/5/2009 2:20:12 AM
Weekend Report - FAS - Uncertainty Strikes FAS - Sourced WhisperFromWallStreet.com
Direxion Daily Financial Bull 3X Shares
Weekend Report - FAS - Uncertainty Strikes FAS - Sourced WhisperFromWallStreet.com
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Direxion Daily Financial Bull 3X Shares.FAS
Market Update: 8.26 Down 0.08 (0.96%) 7:59PM ET
Direxion is the first company to offer ETFs that have a targeted return which is leveraged to 3 times and minus 3 times that of the underlying indices. So far, the biggest successes have been the large cap 3x bull (BGU) and large cap -3x bear (BGZ) ETFs, which are based on the Russell 1000. Also proving popular are the small cap 3x bull (TNA) and small cap -3x bear (TZA) ETFs, which follow the Russell 2000."
But a lot's changed since November. The VIX traded in the 80s the month it was launched; today it was as low as 25.02. At the moment, the VIX is exactly one-third as high as it was when it peaked in November at 81.38. For those who've been selling options, the ride down the volatility slide has been an unusually profitable one. In fact, it's likely that some of the premiums harvested in the last 9 months or so will turn out to be the most bloated we'll see in our trading lifetimes.
About
Direxion Daily Large Cap Bull 3X Shares (the Fund), formerly Direxion Large Cap Bull 3X Shares, seeks daily investment results of 300% of the price performance of the Russell 1000 Index (the Large Cap Index). The Large Cap Index measures the performance of the large-cap segment of the United States equity universe. It is a subset of the Russell 3000 Index and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership. The Fund creates long positions by investing at least 80% of its net assets in the equity securities that comprise the Large Cap Index. The Fund will also invest in financial instruments that, in combination, provide leveraged and unleveraged exposure to the Large Cap Index. On a day-to-day basis, the Fund also holds money market instruments. The Fund's investment advisor is Rafferty Asset Management LLC.
Last Trade: 8.34
Day's Range: 8.32 - 8.89
52wk Range: 2.32 - 32.68
Volume: 144,981,012
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