FAZ Minus FAS: Balance Between The Financial Bulls And Bears

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FAZ Minus FAS: Balance Between The Financial Bulls And Bears

By David Spurr on April 26, 2009 | More Posts By David Spurr | Author's Website

Here’s an interesting chart. I took the Direxion Financial Bear 3X Shares ETF (FAZ) and subtracted Direxion Financial Bull 3X Shares ETF (FAS), and you can see that right now the price is close to zero, suggesting that there’s some fairly equal balance between the bulls and the bears.

If the price of FAZ were to move significantly higher, then we could expect the price of FAS to drop by an equivalent margin. I think this chart provides a nice snapshot of the supply/demand relationship between financial equities. I’m going to monitor this chart and look for changes in the price relationships between this chart and the S&P 500 (^GSPC).

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