Profile:
The investment seeks daily investment results, before fees and expenses, which correspond to twice the daily performance of the Dow Jones U.S. Financials index. The fund normally invests 80% of assets in financial instruments with economic characteristics that should be twice the return of the index. It may employ leveraged investment techniques in seeking its investment objective. The fund is nondiversified
Trade Plan:
Watching UYG specifically to trade long sided outcome in broad based ETF covering financial stocks. THe question being the Govt intervention potentailly has signalled a bottom in the market for us, the short sell ban in financials a specific bottom in this sector (potentially).
Will also be watching the inverse of this fund SKF which gains its outcome on the opposite result i.e. financials going down.
No trade plan yet, currently watching the set up.
Trade Plan:
On Watch
Update:
Following the Market Comment (http://www.3stocksonfire.org/trading/index.php?topic=10059.msg118197#msg118197) published today, we're opening a position in UYG today.
Trading Plan:
Buy UYG today (10% exposure), we'll be setting a stop near yesterday's lows.
Update:
Neutral developments for now, I'm setting a suggested stop level.
Trading Plan:
Hold UYG with suggested stop near $8.65
UYG Stopeed @ $8.65