Here's the reason for the big jump (Straight from the Direxion Website - http://www.direxionfunds.com/pdfs/Fund_S... ):

Please be aware that eight (8) Direxion Funds will be undergoing a reverse
split the weekend of December 12, 2008. The ratios are shown below.
December 12, 2008, will be the last date of the pre-“reverse split” price and
December 15, 2008, will be the first day reporting the post-“reverse split”
price. Share balances will be adjusted downward at the same ratio the NAV
is increased.
Here is the table of ratios:
FUND TICKER CUSIP SHARE RATIO*
Small Cap Bull 2.5x Fund DXRLX 254939838 1:2
Developed Markets Bull 2x Fund DXDLX 254939614 1:5
Emerging Markets Bull 2x Fund DXELX 254939630 1:5
S&P 500 Bull 2.5x Fund DXSLX 254939705 1:5
NASDAQ-100 Bull 2.5x Fund DXQLX 254939200 1:7
Latin America Bull 2x Fund DXZLX 254939507 1:5
China Bull 2x Fund DXHLX 254939515 1:12
Commodity Bull 2x Fund DXCLX 254939655 1:3
*The ratio of 1:x means that you will get 1 (one) post-“reverse split” share for x pre-“reverse split”
shares. The NAV will go up by the same ratio.
EXAMPLE:
At the close of business on December 12, 2008, you own 15,000.000 shares of
the Direxion Latin America Bull 2x Fund at an NAV of $4.30 per share. Your
account’s total Net Asset Value is $64,500.00.
At the open of business on December 15, 2008, you will own 3,000.000
shares of the same fund at an NAV of $21.50 per share. Your account’s total
Net Asset Value will be $64,500.00.
If you have any questions, please contact us at 800-851-0511 between the
hours of 9 AM and 6 PM Eastern Time, Monday through Friday.