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Correction Ahead: Buy FAZ

by Sam Collins 08/17/09

Direxion Financial Bear 3X Shares (FAZ) -- This highly leveraged ETF seeks to replicate, net of expenses, 300% of the inverse daily performance of the Russell 1000 Financial Services Index.

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Today the markets appear to be reversing down for a correction of at least 5%.

Since financial stocks have recently led the market and are now very overpriced, this high-risk short play may be a good way to nail down a quick, profitable trade.

But don't overstay your welcome or you could end up with a loss.

This is a speculative, high-risk trade and is not qualified for margin loans. As with all high-risk investments, stop-loss orders are strongly recommended.

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