Stock Market - FAZ is a buy again
Sep 3, 2010, CBOE - Volatility Index (VIX) is trading at 21.81 and S&P 500 index is trading just above 1100 around 1:00 PM EDT. This low level of fear gauge giving as a sell signal and to go long on bear ETFs.
Direxion Daily Financial Bear 3X ETF (FAZ) is trading at 13.75 at 1:00 PM EST today. FAZ is good to start buying from this level.
Even FAZ is good to buy at these levels, it is important to note that it is a leveraged ETFs. Leveraged ETFs may not be suitable for all kinds of investors as it posses high risk if the market direction is not favorable to you. Also refer to my earlier articles on leveraged ETFs.
In case, if we have to face to double dip recession, then FAZ might even gain easily by 300% - 400%.
FAZ is a buy again - Sep 03, 2010
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Posted on Sep 03, 2010