Sell: Direxion Daily Emrg Mkts Bear 3X ETF (EDZ)
from The National Investor
Updated from Investment Digest 762, October 22, 2014
The Beige Book from the Fed minutes ago showed that the central bank might be considerably more worried about the oil price drop and its effects than it has previously telegraphed.
While this doesn’t necessarily mean that 1) It will DO anything about this soon or that 2) We can say that the end of the crude oil decline is over, it DOES mean that a very short oil market could bounce sharply, even if briefly.
At the least, this could compromise our bet on Direxion Daily Emrg Mkts Bear 3X ETF (EDZ). Thus I am advocating you simply SELL IT NOW. We’ll be pennies ahead of the game, at least.
Chris Temple, The National Investor, www.nationalinvestor.com, 847-986-6320, January 14, 2015