Greg A. Taylor, CFA, BBA Direx Financial Bear 3x E.T.F. FAZ-N DON'T BUY May 07, 2009

Shorting US financials is not unreasonable but a risky thing to do right now. However, you could hedge this by having a long position in Canadian financials. In this particular case, this ETF is 3 times, which is outrageously risky.

FAS/FAZ pairing. Doesn’t recommend.

US financials bear x3 ETF. In the short term, US financials could have some upside. Some short-term pullback is inevitable. If you're nimble next few weeks you could probably use this instrument but there is a lot of leverage in this product. Be careful.