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« Securing America’s Energy Future | Main | Crosshair: Is this as low as it can go? »
Tuesday
Mar252008

SKF: Increased Our Position

We recently bought a position the inverse ETF called Ultra Short Financials ProShares, (AMEX:SKF) in a “Bet Against The Banks”. SKF is designed to rise 20% when the Dow Jones US Financials Index falls 10%.

This is a volatile security and has recently endured a significant pullback and, as we are still bearish on the financial sector, in our opinion this is a great time to buy. We are taking advantage of this and have more than doubled our position in SKF at an average price of $103.95. This is just a quick note to let our readers know our position, a more comprehensive write up of the situation will be coming shortly.


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