Triple-Bear ETFs Up Today on Dubai News

Includes: EDZ, FAZ
by: optionMONSTER

By Jon Najarian

EDZ Chart

EDZ Emerging Market Fund Gains

The Direxion Daily Emerging Markets Bear 3x (NYSEARCA:EDZ) has been down 92 percent thus far year to date, but today shares of the ETF are moving up as the Dubai World debt issues drive markets down. Shares have been up as much as 20 percent, but as markets recover the EDZ eases to a gain of 12 percent on our Heat Seeker system.

FAZ Financial Index Also Rises

Direxion Daily Financial Bear 3x (NYSEARCA:FAZ) offers triple the inverse (or opposite) of the price performance of the Russell 1000 Financial Services Index. The exchange-traded fund has been up as much as 12 percent but has pulled back to a gain of 8 percent in the pre-market on our tracking systems.

(Chart courtesy of tradeMONSTER)