Wednesday 18 July 2012

TZA - has it found a floor..and ready to leap?

TZA - Direxion ETF, representing the Rus'2000 small cap. It looks like its still able to comfortably hold the floor from late March/early July.


TZA, daily


Summary

First target is a clear break out of the current declining channel, >$19

Secondary target, a new short term high >$24.50
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Bears trading this ETF can put in a simple short-stop at the recent low, around the $16.50 area.
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*As ever, statistical decay is a problem with the 3x leveraged ETFs.