I’m covering about a third of my short in this one…

Newsflash:

Shares of Bank of America, Goldman Sachs and Morgan Stanley all hit two-year lows today http://on.wsj.com/oxRr4U

I’m short the XLF which gives me profits as these TBTF banks collapse.  Of course, I wish I’d been aggressive this whole time…I’ve just barely gotten started building this short position and these guys haven’t given us hardly a rally at all to build these shorts on.

Anyway, the banks are getting theirs and I’m covering about a third of my short in this one for a 10% trading gain.  10% in an ETF short over a three month period is worth locking in a little bit.

Thanks for subscribing and I’ll see y’all tomorrow!