For my long term investment portfolio, I added 100 more shares of General Electric at $12.95.
For my short term trading, I bought 750 shares of Ultra Financials Proshares(UYG) at $2.84. Financial stocks are trades right now. Every bank stock got slaughtered today. Some examples: PNC bank lost over $15 per share today to close at $22. Citigroup lost 20% of its value today to close at $2.80. Bank of America lost nearly 30% of its value to close at $5.10. M&T Bank was down 10% to close ar $35.60. Wells Fargo & JPMorgan Chase down over 20% a piece. Some of these stocks deserved to be punished but every financial stock didn’t deserve the beating that they took.
I too got my hand caught in the financial cookie jar. Added a position of FAS @ 8.50. I thought I was getting a deal until it continued it’s spiral downward. This is only short term trade, but I hope to see it back in the teens in the coming weeks.
On a side note, I have the exact same theme as you for my blog
Stupidly Yours,
Matt
@StupidCents
I think that financial ETF’s in general are a decent value. You are taking even more risk than me with a 3x leveraged ETF. If the financials improve at all short term, you should benefit.