a call for SKF

[Entendance]

http://www.proshares.com/funds/skf.html ... nd%20Chart
http://www.proshares.com/funds/skf.html?Overview
http://www.proshares.com/funds

"I think it's very unlikely that the sector will be a top performer.

So what, exactly, is the financial sector supposed to do for earnings growth?

I can tell you it's not going to be subprime lending. A couple years ago, when this sector was on top of the world and capable of doing anything it wanted, subprime lending was what they chose to do. That was their best idea: Lending money to people who couldn't pay it back.

So again -- what, exactly, is the financial sector supposed to do for earnings growth? Nothing. There won't be anything for them to do. Oh, sure, there will be reported growth once all the write-offs finally stop. But that's not really growth. It’s a one-time catch-up effect, and it says nothing about the actual growth power of these businesses.

There's no value case for the financials, either. Even using forward consensus earnings, which look beyond this year's write-offs, the sector has a higher price/earnings ratio today than it did a year ago before the crisis struck."
excerpts from D.Luskin article on smartmoney

[Entendance]

"If the bull market in gold were over, it would mean that inflation was under control, the dollar's long-term problems had been solved, the government had become restrained in printing new money, banks were healthy, house prices had stabilized, a surprising new source of energy had been discovered, unemployment was diminishing, and everyone was smiling. That's not what I see." viewtopic.php?f=16&t=399

Lehman in Talks With Korea Development Bank, Min Says
http://www.bloomberg.com/apps/news?pid= ... refer=home

Today 8:30
UYG 22.38 +6.32%
SKF 111.24 -4.67%

[Entendance]

"...We'll keep an eye on this one, but our instincts are telling us that this deal is not only dead, but its starting to smell..."

http://jessescrossroadscafe.blogspot.co ... art-2.html

[Entendance]

today's first buy at 109.05

[dow_3000]

Can not say I am willing to go back long on SKF - yet, but did close out my UYG trade this morning.
Trying to short more COF as it pokes it's ugly head up around $45 again.

[Entendance]

<You don't make money buying when you're optimistic, you don't make money selling when you're pessimistic> I don't buy when others buy, I don't sell when others sell.
that's why today IN our portfolios SKFs fetch +6.18%

[limo_888]

today's first buy at 109.05

That's a bargain...

[Entendance]

...and it's coming to fruition

[Green]

Yes it is. Although the financials are not leading the charge down. Along with the biotechs/health care, they seem to be weathering the storm the best. Sector rotation?

[defio70]

Entendance absolutely right on SKF:
-The U.S. trade deficit swelled in July to its widest gap in 16 months as the price of imported oil surged to another record in the month
- Walking a tightrope: as Lehman Brothers Holdings Inc. stock teetered in recent weeks, Chairman and Chief Executive Richard Fuld Jr. called Wall Street executives to make sure they were still trading with his embattled firm and offering it credit. Rumors about the firm's health kept popping up, he groused to other executives.