Make a Quick Trade in Financial Inverse ETF
by Sam Collins 11/17/09
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UltraShort Financials ProShares (SKF) -- This exchange-traded fund (ETF) seeks to achieve results that are twice the inverse of the daily performance of the Dow Jones U.S. Financial Index.
In March, this inverse ETF traded above $260, but is now at $24.
With the markets at a resistance line and banks considered overpriced by a top analyst, traders may want to take a position in this very volatile ETF for a quick trade. This is an inverse, leveraged ETF and only suitable for day traders, not long-term investors.
Stop-loss orders should be entered at $22. The target for this trade is $28 to $30.
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