Direxion Daily Small Cap Bear 3X (TZA) AKA "Taz"
Background: Direxion Daily Small Cap Bear 3X trades an average of 20 million shares per day.
52-Week Low: $13.35Taz is the final leveraged ETF with sirens blaring on my computer. It is based on a theoretical leveraged index of small capitalization companies. Beyond learning that the shares are oversold, keep in mind that they don't have to correlate (inversely) on any given day to the underlying stocks. The underlying index basket is the Russell 2000. The weekly chart based on my indicators (hat tip again to Tom DeMark) is an aggressively long buy signal. The daily chart, the chart that I use to time entries based on weekly signals, is slightly oversold and near very oversold (within a few days). What does this mean to me? The chart suggests to me that I should anticipate a pullback in the aggressive move higher by small cap stocks.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV