iShares Dow Jones US Financial Svc.(ETF) (AMEX:IYG)
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Banks overpriced.
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When the overly optimistic FOMC says that household spending will be "constrained" by sluggish income growth, ongoing job losses, lower household wealth, and tight credit AND Shanghai stocks hit a seven-week low, then you know this bear market rally is finally over!
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QUICK! Pick a reason to exit a market that has risen too fast and gotten too expensive. Here are three to choose from: buying power is getting exhausted according to DeMark indicators; daily sentiment indicators are 88% bullish; RSI’s and oscillators are over extended.
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Fading every pick made by Ultralong
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etfscreener.com
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This is one of two financial ETFs I own. I already bought more shares in anticipation of the financial bailout package. I expect that we have bottomed out in financials and once the bailout package passes, it will handsomely lift financials. A bailout package will pass in one form or another--I have no doubt about it!
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Turbulent times currently for the financial sector. Will not last forever. The ride will be rocky but IYG will be a winner in the long run.
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Basically the same choice than UYG and IYF: bear market for financials is over (or next to be).
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Banking and Financials are beaten up. WIth all of the cheap money they've been getting from the FED, expect them to pick up soon.
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I think this ETF will outperform but it doesn't hold significant weight in my portfolio. The financial services are too violate and as things constantly change, we have no idea what's going to happen. This ETF has all the right companies in it - for now - but I am not sure about in 5 years.
I would be cautious about purchasing this ETF.
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