Shorting XLF @ $23.09
5% position
After buying KMI and EPD, I had to offset it with a short. So I'll short financials.
Huge numbers of people didn't pay their mortgage last month. Losing jobs isn't good news for banks. Lower interest rates isn't good news for banks. It's a tough environment to be a financial company.
I would short XLE, but think that oil has upside and don't want to short the higher beta aspect of my trade. So I decided to short something that's not so much as hedge as it is an outright short idea.
5% position
After buying KMI and EPD, I had to offset it with a short. So I'll short financials.
Huge numbers of people didn't pay their mortgage last month. Losing jobs isn't good news for banks. Lower interest rates isn't good news for banks. It's a tough environment to be a financial company.
I would short XLE, but think that oil has upside and don't want to short the higher beta aspect of my trade. So I decided to short something that's not so much as hedge as it is an outright short idea.
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