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Gary Tanashian
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Gary Tanashian is proprietor of and Actionable, hype-free technical, macro economic and sentiment analysis is provided in the premium market report 'Notes From the Rabbit Hole' ( Complimentary analysis and commentary is available at the... More
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Notes From the Rabbit Hole
  • Check Up on SKF (Financials short position) 0 comments
    Jul 8, 2009 2:13 PM | about stocks: SKF, XLF

    I will be the first to admit that I neither know nor care how these things work, these high octane ultrashort ETF's. A subscriber who is an economist by training sent me a mathematical breakdown of the dynamics in play on vehicles like this but I could not understand it. I am a psychology and sentiment guy after all, not a numbers guy. :-)

    So, while it is advised to use these things as no more than day trading vehicles, I find myself watching SKF and the other ultrashorts daily and seeing charts that look to be making nice bottoms. Here is SKF hinting toward a breakout that would target the 55 area at which point I "think" I will sell it, subject to ongoing review of course.

    An abbreviated version of NFTRH (#40) just went out to subscribers and I am thinking of making it available for free on the blog after the market closes. If so, it will be linked here with no need to email me.

    Themes: financials, ultrashort etf Stocks: SKF, XLF
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