UYG ULTRA FINANCIALS PRO (NYSEArca: UYG)

[chrsb]

It getting closer to it's 52 week low, I traded this back when it hit the 3's and did pretty well on it. Here are it's holdings-
AMER EXPRESS INC AXP
BK OF AMERICA CP BAC
BANK OF NY MELLON CP BK
CITIGROUP INC C
GOLDMAN SACHS GRP GS
JP MORGAN CHASE CO JPM
THE TRAVELERS CO TRV
US BANCORP USB
VISA INC. V
WELLS FARGO & CO NEW WFC

[chrsb]

I think all it will take is some sort of bail out news and most of these will pop, I am also watching FAS, triple leveraged financial!
Quotes for AXP, BAC, BK, ... - Yahoo! Finance

[chrsb]

Took a position today, lets see what the fed does!

[fz4fun]

Originally Posted by chrsb

Took a position today, lets see what the fed does!

Right there with you-started my position yesterday and added today on the dip. I made some money on this in Dec and have been waiting for it to dip lower again to give it another run. Let's see what the Fed rumors and the upcoming inaguaration do to the financials.

Let's hope for a banana dance soon

[chrsb]

I also picked up a little FAS, first time with it, lets see how it does! Looking forward to the fed stepping in!!!

[chrsb]

Better hold one, looks like we are going up today!
US STOCKS-Futures jump as BofA gets aid; Citi to split | Markets | Markets News | Reuters

[chrsb]

Wow, what a ride, I stopped out for a loss, might reenter later on

[fz4fun]

Originally Posted by chrsb

Wow, what a ride, I stopped out for a loss, might reenter later on

I added to my position on the downtrend yesterday and today. My cost average is now $3.94. I would love it to run back to $6.00 over the next week or so and make some green again.
Holding on for the ride, playing this and the oil ETN's right now. Everything else is dividend paying stocks.

[chrsb]

I am thinking of pulling the trigger again, will be watching close the next few days. On a side note, stay away from FAS unless you have balls of steel, I traded that the same day I did UYG. In a down market that thing grows legs and runs down!

[thegreatgate]

The first time I got UYG was about two days before the 7,500 bottom back in late November. I got in a couple days too early at $5.10 and a day or two later UYG hit the previous bottom of $3.2X....I thought I would be holding for months before I broke even but there was an enormous rally and I broke even and sold for a profit within a week.

The reason I am saying this is because UYG doubled very quickly from the November bottom and so did FAS....matter of fact if you look at the charts from the previous November 21 bottom FAS more than doubled and UYG almost doubled in 1 week (5 trading days)...UYG went from about $3.50 on November 21 to $6 on November 28 and FAS went from $14 to $30.

What got things going last time was the $306 billion Citibank bailout....I think we might need a miracle this time but a few good rallies should do the trick. The saddest part is UYG closed over $6 exactly 2 weeks ago and FAS closed over $25 exactly 2 weeks ago!