![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
Our RSS Feed
Tuesday
Mar252008
SKF: Increased Our Position
Tuesday, March 25, 2008 at 02:47PM
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.
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.
Reader Comments