Bought 200 Shares of UYG at 3.07
*Note – I made this trade before launching ClearTrades.com so the details are a little light. You can expect to see more information on trades made in the future.
Long 200 shares of UYG (Ultra Financials ProShares) at 3.07. I would have bought more, but I only had enough cash in my account for 200 shares and I wasn’t ready to sell off anything else at the time.
UYG is a Financial Sector ETF. The financials were really taking a beating up to this point, but the news started looking better and better. It sounded like nationalization of banks was definitely off the table so I decided to add more Financial sector exposure (to go along with my large weighting in BAC).
We should finally get word from the Treasury on Monday (CNBC – Treasury Still Honing Wide-Ranging Financial Aid Plan) regarding the Financial bailout (or whatever they plan to do) and as long as nothing crazy pops up I think this will trade much higher over the coming week.
