Proudly Displaying My Ignorance
I'm hoping I can get a good answer to this, since I'm willing to bet I'm not the only one who would like to fully understand this.
I got SKF on here at $106, and figured it would've taken off by now, but it hasn't.
So, while I realize that SKF is an ultrashort of the (Dow Jones) financials, can someone please explain...
1) How exactly does an "ultrashort" work (what makes it an "ultra" short)?
2) Exactly what financials is it ultrashorting?
I can't believe that with Fannie and Freddie dying, LEH in freefall, WM questionable, and AIG nose-diving today that SKF wouldn't be higher than it is.
Thanks in advance.