Tomorrow's Important Economic Numbers: How To Play It (FAZ, FAS)

Tomorrow's economic release is generally a market mover and here's how to play it.

At 8:30 a.m. the Labor department will release its initial claims data for first time unemployment filers. Economists expect claims to come in at 485,000. This is down from the prior week, when a 500,000 claim number shocked the markets and sent things into a tailspin.

Continuing claims are also going to be released, with expectations for about 4.5 million filing for more than one week of unemployment.

Given that the average length of unemployment is over 9 months now, I wouldn't be surprised to see both of these numbers miss expectations.

Considering the fact that the majority of economic numbers have missed the markets expectations lately, I would take a look at Direxion Daily Financial Bear 3X ETF (NYSE: FAZ) for a short term, day trade.

FAZ is pulling back slightly today on low volume. It's currently down 3 cents to $17.02 on 39 million shares. The average volume for the ETF is just over 48 million shares.

On the other hand, if expectations come in better than expected, and given the pessimistic outlook of the markets lately, we could see the markets run up a little bit. To capture some profits here, I would take a look at the inverse ETF, Direxion Daily Financial Bull 3X (NYSE: FAS).

These are just short term trades to capture some profits off tomorrow's economic numbers, and are not indicative of anything more.