Volume Spike Investor

With the blow-up of CIT Group and the drop out of the junkier financial stocks today, it may be of little surprise that the triple leverage financial ETFs are seeing a surge in trading volume.  The Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) has whipped around throughout the day.  Ditto for its anti-twin Direxion Daily Financial Bull 3X Shares (NYSE: FAS).  A6 3:07 PM EST we have seen 125.9 million FAZ shares trade hands versus an average volume of 76.3 million shares.   This would mark the heaviest volume day in weeks if this continues the pace and would eclipse the 138,981,800 shares traded on Friday.  Again, assuming this pace keeps up in the last hour of trading, or the power hour.  The FAS has traded 48 million shares versus 34 million on average.  That probably won’t beat out the 56.1 million shares listed as the trading volume from Friday.  But if this pace keeps up today, it would be behind that and the second most active trading day in weeks as well.  The FAS is up 0.5% at $67.95 and the FAZ is down 0.57% at $22.81.  -JON OGG