Thursday, November 10, 2011

Hedging Financials Today

After getting beat down on Wednesday the financial stocks bounced this morning.  I thought there was a chance that this bounce would not last, so CCI bought the double short financials ETF (skf) today as a hedge against more bad banking news.  There was really not too much movement during the day and the position was closed in the afternoon for a "huge" gain of $3.84 after commissions.    

So this attempt ends in a tie.   13-0-6 trading double short ETFs this year.

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