Sold Ultrashort Financials — Stop Hit

By Travis Johnson, Stock Gumshoe, September 16, 2008

Late this morning my position in the UltraShort Financials ETF (SKF) hit its stop loss and I sold the position — I had a stop loss in position at 8%, and sold the shares today at about $132.50 mnhjbv  (that was an 8% drop from the spike up we had at the open this morning in the $140s).  I had expected to hold the shares for longer, but I’m happy with a gain of about 14% in a couple days.  I may re-enter this position if the financials get a positive bounce, perhaps following the Fed announcement.  We’ll see.

Personal Capital is an advertiser with Stock Gumshoe, but Travis also uses it every day for his personal accounts and finds it invaluable. Here's what he said: "They offer a great (and genuinely FREE) 'second opinion' for your financial plan, but what I love most is their automated financial dashboard -- it will look at all your assets and debts, tally up your asset allocation, project where you'll be at retirement, and suggest ways to manage risk or improve returns. It's free, I think their free tools are great, and I think it's worth checking out -- you can do so here.
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