Macro Tsimmis

intelligently hedged investment

BUY UltraShort Finance ETF (SKF)

Posted by intelledgement on Mon, 08 Sep 08

Sunday’s move by the US government to take over Freddie Mac (FRE) and Fannie Mae (FNM) has encouraged investors to buy banks and knocked this fund down to a price below where we sold it back in March. However, with consumer spending still weakening and the economy in general slowing, we don’t expect the housing market to recover anytime soon and consequently, the financial sector in general looks even weaker than it did in March. So we are back in here.

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