Rusty Shackelford

Direxion Changes Objectives Of Ten Leveraged Funds To Address Extreme Market Conditions, While Also Closing Eight Funds Due to Limited Interest Since Launch Funds' Exposure will be reduced from 300% to 200% NEW YORK, March 20, 2020 /PRNewswire/ -- Recent and near unprecedented volatility across global markets, driven by the impact of the COVID-19 pandemic and oil price war, has dramatically increased the explicit and implicit cost of trading in the energy and commodities markets. While volatility will subside at some point, the ability to cost-effectively and efficiently access these markets may remain challenged for some time. In consideration of the best interests of shareholders, the Board of Trustees of the Direxion Shares ETF Trust has approved changes to the names, investment objectives, and investment strategies of 10 leveraged ETFs (each, a "Fund" and collectively, the "Funds"), based on the recommendation of the Funds' adviser, Rafferty Asset Management, LLC. Effective May 19, 2020, each of the Funds' names will be changed as follows: Current Fund Name New Fund Name Ticker Direxion Daily MSCI Brazil Bull 3X Shares Direxion Daily MSCI Brazil Bull 2X Shares BRZU Direxion Daily Russia Bull 3X Shares Direxion Daily Russia Bull 2X Shares RUSL Direxion Daily Gold Miners Index Bull 3X Shares Direxion Daily Gold Miners Index Bull 2X Shares NUGT Direxion Daily Gold Miners Index Bear 3X Shares Direxion Daily Gold Miners Index Bear 2X Shares DUST Direxion Daily Junior Gold Miners Index Bull 3X Shares Direxion Daily Junior Gold Miners Index Bull 2X Shares JNUG Direxion Daily Junior Gold Miners Index Bear 3X Shares Direxion Daily Junior Gold Miners Index Bear 2X Shares JDST Direxion Daily Energy Bull 3X Shares Direxion Daily Energy Bull 2X Shares ERX Direxion Daily Energy Bear 3X Shares Direxion Daily Energy Bear 2X Shares ERY Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares GUSH Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X Shares Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares DRIP Currently, each of the Fund's investment objectives is to seek daily leveraged, or daily inverse leveraged, investment results, before fees and expenses, of 300% (for the Funds with Bull in their names) or -300% (for the Funds with Bear in their names) of the performance of the Fund's respective underlying index. Effective May 19, 2020, each of the Fund's investment objectives will be changed to seek daily leveraged, or daily inverse leveraged, investment results, before fees and expenses, of 200% or -200% of the performance of the Fund's respective underlying index, as shown below: Fund Underlying Index New Daily Leveraged Investment Objective Direxion Daily MSCI Brazil Bull 2X Shares MSCI Brazil 25/50 Index 200% Direxion Daily Russia Bull 2X Shares MVIS Russia Index 200% Direxion Daily Gold Miners Index Bull 2X Shares NYSE Arca Gold Miners Index 200% Direxion Daily Gold Miners Index Bear 2X Shares -200% Direxion Daily Junior Gold Miners Index Bull 2X Shares MVIS Global Junior Gold Miners Index 200% Direxion Daily Junior Gold Miners Index Bear 2X Shares -200% Direxion Daily Energy Bull 2X Shares Energy Select Sector Index 200% Direxion Daily Energy Bear 2X Shares -200% Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares S&P Oil & Gas Exploration & Production Select Industry Index 200% Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares -200% Fund Closings Due to the their inability to attract sufficient investment assets, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close eight ETFs (each, a "Fund" and collectively, the "Funds"), based on the recommendation of the funds' adviser, Rafferty Asset Management, LLC. Rafferty believes they cannot continue to operate the Funds in an economically efficient manner. As a result, the Board concluded that liquidating and closing the Funds would be in the best interest of the Funds and their shareholders. The Funds closing are as follows: Fund Ticker Direxion Daily Russia Bear 3X Shares RUSS Direxion Daily Natural Gas Related Bull 3X Shares GASL Direxion Daily Natural Gas Related Bear 3X Shares GASX Direxion Daily MSCI Developed Markets Bear 3X Share DPK Direxion Daily Mid Cap Bear 3X Shares MIDZ Direxion Daily Regional Banks Bear 3X Shares WDRW Direxion Daily MSCI European Financials Bull 2X Shares EUFL Direxion Daily Total Bond Market Bear 1X Shares SAGG The Funds will cease trading on the NYSE Arca, Inc. ("NYSE") and will be closed to purchase by investors as of the close of regular trading on the NYSE on March 27, 2020 (the "Closing Date"). The Funds will not accept purchase orders after the Closing Date. Shareholders may sell their holdings in the Fund prior to the Closing Date, and customary brokerage charges may apply to these transactions. However, from March 27, 2020 through April 06, 2020 (the "Liquidation Date") shareholders may only be able to sell their shares to certain broker-dealers and there is no assurance that there will be a market for a Fund's shares during this time period. Between the Closing Date and the Liquidation Date, each Fund will be in the process of closing down and liquidating its portfolio. This process will result in a Fund increasing its cash holdings and, as a consequence, not tracking its underlying index, which is inconsistent with each Fund's investment objective and strategy. On or about the Liquidation Date, each Fund will liquidate its assets and distribute cash pro rata to all remaining shareholders who have not previously redeemed or exchanged their shares. These distributions are taxable events. In addition, these payments to shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, each Fund's net asset value will reflect the costs of closing the Fund. Once the distributions are complete, the Funds will terminate.

Yep, at least 2100 first stop, maybe lower

It's a dog fight right now, can't stop watching

Dec 24 2018 bottom could act as support, if not we'll probably lose at least another 10%

SPY must close above 235 or watch out below

If the Fed can buy MBS fast enough/funds quit dumping, it will drive mortgage rates lower correct?

Do you have a breakdown of the individuals that don't file with the IRS? Genuine question, I'm guessing it's a strange mix

Is LTV being adjusted to account for the recession?

https://www.wsj.com/articles/texas-weighs-curtailing-oil-production-for-first-time-in-decades-11584646724?mod=searchresults&page=1&pos=1 Texas regulators are considering curtailing oil production in America’s largest oil-producing state, something they haven’t done in decades, people familiar with the matter said. Several oil executives have reached out to members of the Texas Railroad Commission, which regulates the industry, requesting relief following an oil-price crash, the people said. U.S. benchmark oil closed around $25 a barrel Thursday. Texas, which hasn’t limited production since the 1970s, was a model for the Organization of the Petroleum Exporting Countries, which has sought to control world-wide oil prices in recent decades. OPEC and Russia were unable to reach a deal on reducing output in response to the coronavirus pandemic, which helped trigger the current collapse in prices. It is unclear whether regulators will ultimately act to curtail production, but staffers are examining what would be required in such an event, the people said.

Fuck Ray Dalio too https://www.cnbc.com/2020/01/21/ray-dalio-at-davos-cash-is-trash-as-everybody-wants-in-on-the-2020-market.html

This guy has been on the money since this monetary crisis started really unfolding https://twitter.com/SantiagoAuFund (warning: twitter is also known to contain Russian trolls)

Yes I know, I ignore 99% of the bullshit they repost, but do you have anything to say about the article I posted? Re-posting is what they do, but in this case it's Bloomberg and JP morgan.

S&P 500 retesting Dec 24 2018 today. Hopefully see a bounce tomorrow.

https://www.zerohedge.com/markets/what-12-trillion-dollar-margin-call-looks

They are not all per person, or per month. They are all much closer to the same $ amount per household if you read them and do the math, but you are right we may not get any of them thru senate

This is not an accurate representation of the plans presented

What are your thoughts on the dollar milkshake theory?

Nearly all auto manufacturers have committed to going all electric by the end of the decade. I suppose we could see some startup (the anti-Tesla) try to resurrect the ICE, but good luck getting funding for it.

Anyway back on the topic of aggystonk investing advice, I nominate Ray "cash is trash" Dalio as honorary aggy. He's got to be at least half blood - looks like the love child of John Sharp and Bill Maher

I'm lost, you can't have margin on an Roth IRA acct right? How could he do that without margin?

I may have to turn on Fox news or Hannity, this should be some good shit!

What if you take your helicopter money and buy physical gold every month? [emoji2962]

https://www.washingtonpost.com/business/on-small-business/mnuchin-discusses-850-billion-stimulus-and-checks-to-americans/2020/03/17/f682bb24-684d-11ea-b199-3a9799c54512_story.html

Trump is obviously a fan of the MMT, at least large parts of it.