AMEX:TZA DIREXION DAILY SMALL CAP BEAR 3X SHARES
TZA following a clear channel. Whether this represents the general market, or it is a leader, not sure. I know that traders like the 3X funds during consolidation because they represent high risk reward value when most are more or less stalled. Why did it overrun the channel bottom trend? Friday before a extra day off weekend tends to be an up day. Shorts covering. But, vote in Ukraine Sunday, Pope visits Holy Land, lots to cause volatility this weekend. Violence breaks out in Ukraine, could wake up Tuesday to a jump in markets either way. Other side of coin, extra long weekends can be terrible Tuesdays too. Cramer did not get Friday either. Big earnings next week, i.e. Costco, comments... He shared frustration here, expects market may see a meet expectation as a downer and sell off. In fact many earnings next week may dissapoint. Took long position TZA Friday, to bounce the channel bottom to the upper trend line next week.