Things have changed quite about since fall of 2008. I think the term Financials has become obsolete, and that effects these financial ETF's. These tickers are a combination of soon to fail financials but are also heavily weighted with the "annointed ones" courtesy of Uncle Sam. So I think his startegy is obvious in his shorting of the regional's that hold most of the commercial real estate that will fail and will not enjoy the "to large to fail" arrangementof GS, BAC, etc.
Another great post Peter. I think the Chinese are playing a bigger role in all of this. Looks like they even gave us this bear rally. Notice how much copper they have been buying for stock piles. They'll knock that price down anytime they want to now.
John Paulson: Long Financials [View article]
Credit Card Cancer [View article]
crudeoiltrader.blogspo...