Anyone else long SKF

Discussion in 'ETFs' started by einai, Feb 27, 2009.

  1. einai


    I had to buy some at the open yesterday with that groundless rally in financials.

    Should be up 20% at the open. Sound logic says close out the position now.

    But my thinking when putting it on is that there is going to be continued bad news for US financials - just didn't expect something this big this soon. So by my initial logic, I should hold on. This could, after all, be a terrible day. Perhaps this premarket prices are just the start.

    Thoughts, advice, appreciated.

  2. ktrade


    Well I am no seasoned veteran, but I was surprised about that this turn was so fast as well.

    I had a couple bearish trades on financials that I held off on yesterday because I thought the positive trading in these would go for a day or two, and then the same bearish action in the financials would return again for a longer while.

    Still feel the same, put the positions on today, will hold for a while...