Direxion Daily Small Cap Bear 3X Shares (NYSE:TZA) — This highly leveraged exchange-traded fund (ETF) seeks the daily results of 300% of the inverse of the performance of the small-cap Russell 2000 index.
Therefore, it is a highly speculative ETF and should be traded only by the most proficient and savvy traders. But for those who have the experience and are able to risk the capital, it can provide a very fast trade.
TZA’s support now rests at $17. If the Russell 2000 falls under its major support line at 785, TZA could trade to $24 very quickly.
This leveraged ETF is meant for day traders, but could be held for several weeks. However, as noted, this is for experienced traders and speculators only.
Sam Collins currently holds a position in TZA.