Should I bank on the bailout with a financial ETF?
Answers
528 points
Creezy answered one month ago …
Looks like the bailout didn't have the effect the Feds were looking for. 150 point decline before the close - no telling how this week will work out. Staying away from financials (stocks AND ETF's) seems like the right move for now.
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726 points
alanj answered one month ago …
You'd probably be better off shorting the financials. SKF is the short version of UYG. It's going to be about a month for any sort of plan is in place for the recently passed rescue bill that was signed into law. It's going to take some time to see if it's even going to work as far as saving the financial institutions is concerned. But, I would wait for SKF to pull back to the lower trendline or a support area before getting in.
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