Opinions
Richard Croft
ProSh UlShrt Financial E.T.F.
SKF-N
COMMENT
Nov 20, 2009
Ultra short US Financials ETF. Gives a 200% upside for every 100% move on the underlying index, the US financials. Use a lot of derivatives of market so volatility is one of the factors that come into play. Down because financials have done well since February and volatility got squeezed out. US financials need to decline sharply. Short-term play.
$24.710
Stock price when the opinion was issued
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Concerns right now because of the US announcements on Friday on financial stocks. Any ETF with financials in them had a short-term issue because the hedging parties had to sort out and get exemptions. Most of them would have received this as opposed to short sellers. He is bullish on Canadian banks. Global banks have also been beaten down. Doesn't like the Short and leveraged ETF’s for long-term investors.
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