Posted on June 21, 2020
What sort of diabolical entree was he planning!?
Some say the Chinese put him up to it.
Some say the Russians.
So many enemies out there.
So much blame to spread…
We’ve made great money playing the bumps and zags in the financial sector of late, and today we’re venturing that same terrain again.
Yessirree! Our play today is a direct bet on a rise in the banking sector that will cost us little and leave us whole should the banks head south.
Here’s the set up –
It’s a pairing.
On the one side, we have the Direxion Daily Financial Bull 3x Shares (NYSE:FAS), now trading at $33.30. This is a leveraged ETF based on the Russell 1000 Financial Services Index.
The options add additional leverage. Heh, heh, heh…
On the other side, sits old Goldman Sachs (NYSE:GS), stodgy banker brokerage with a global reach and a current share price of $201.63.
And this is the way the two square off since last summer –
With kind regards,
Hugh L. O’Haynew