Friday, September 19, 2008

Ultrashort Financial (SKF) Halted

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Things like this make me wonder what country I am in.

I've received many emails and yes Ultrashort Financial (SKF) is halted and it looks like we are stuck with it until October 2nd. At which time the government can decide if the peons can trade it again. If not they can push out the short ban for 30 more days.

Which will take us to November 2nd.

Which I believe is election day.

How convenient.

EDIT: Reader says AMEX stopped SKF trading due to technical issues and it is back on now. So you are now free to sell at a 35% loss. I still think they'll keep the short selling ban until the election.

Long Ultrashort Financial in fund; no personal position

6 comments:

crappy said...

are all short ETFs on the cutting block as well???

hrs0944 said...

SKF halted today [friday] :(

bag-holding $10K today

crooked politicians protecting crooked wall-streaters who fund crooked politicians !!!!

September 19, 2008 11:25 AM

TraderMark said...

Just SKF for today

If the market goes down further then all of them perhaps

the WSJ reported on website yesterday night that they were going to ban all shorting so this is a "compromise" I guess.

shaxmatist said...

so those in SKF are basically bagholders till October with no possibility to get out? Nasty...

jegan said...

The short list will stay until the election... It just means extending it one more month and Congress has been scapegoating the shorts lately anyway. IMHO!

Just caught the tail end of Pete Najarian... He said they'd be addressing the SKF in particular at 2PM West Coast Time ..

jegan

jegan said...

Don't know what happened to that last sentence... Should have read:

Caught the tail end of an interview with Pete Najarian of Fast Money fame...etc...

jegan

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