When in doubt just Buy the SKF

Bad News Bears all over the place, today from AIG, our failing financial systems, banks dropping left and right, so what do you play?  How about the good ol' ProShares UltraShort Financials (AMEX:SKF) which has come all the way down from over $200 per share to $118 during the last 30 days.

When the feds seized IndyMac bank on July 11, the credit crisis reached new heights. As IndyMac customers lined up outside closed bank branches in Southern California, shouting and shoving to get their money back, scenes from 1930s films of The Depression went through my mind. How safe is our financial system? Will more banks fail?

Masters Sponsor - Be one Today

The collapse of IndyMac and the bailout of Fannie and Freddie have revealed the true nature of our massive global financial system: it's a mega-mansion built on a mountain of debt.

As much as the Masters have praised and still love the UltraShort Oil & Gas ProShares  (Public, AMEX:DUG) oil is all the way down to $120.  Time to take some off the table on the DUG and look into profiting from the further decline of our U.S. Financial system, your play... The SKF

Among the Standard & Poor's 500, there are 23 stocks trading for $10 or less including beat-up financials in the group, such as Washington Mutual (WM) E-Trade Financial (ETFC) and Freddie Mac (FRE).

If the talking heads are saying it's going to get worse before it gets better and they appear right for once, why not hedge your bets?