Credit crunch taking its toll

I'm convinced that the worst is still ahead for the financials. The headlines are just terrible. I'm sure that after the weekend--or Monday at the latest--there won't be any Lehman Brothers anymore, and Merrill Lynch and AIG will follow shortly, but only after wiping out a bunch of investors, but I won't be one of them, because I'm going to short the whole lot of them. You see, I can do that with any number of inverse ETFs, exchange traded funds that will perform exactly opposite--in this case--the finance sector. Naturally, I don't own any financials. I saw it all coming late last year and cleared everything out. Well, okay, not everything, but I wanted to. I kept thinking things would get better, and they didn't.

So, on Monday, September 15, I'm going to buy the ProShares UltraShort Financials ETF (SKF) and watch my profits roll in.























And here's a link to the live chart: ProShares UltraShort Financials