I just sold some KBE
Market Alert: 2008-09-29
OK, things are too much in limbo with the banking sector right now. I just sold 37.5% of my position in KBE, the banking index ETF. All shares were sold at a gain since I bought at a price lower than what it is trading at this afternoon. However, with bad banks like Citigroup having to take one even worse banks like Wachovia, I just don't see how the banks that are left are going to be able to outperform some other sectors that I am targeting for future growth such as XLK (technology) and FXI (China), both of which are at decent prices now if you are willing to hang on for a while. I will keep the rest of my KBE for the ride, but feel better having some cash back in my portfolio so that I can take advantage of buying into other key long-term growth sectors as the market goes down.
Gregory
OK, things are too much in limbo with the banking sector right now. I just sold 37.5% of my position in KBE, the banking index ETF. All shares were sold at a gain since I bought at a price lower than what it is trading at this afternoon. However, with bad banks like Citigroup having to take one even worse banks like Wachovia, I just don't see how the banks that are left are going to be able to outperform some other sectors that I am targeting for future growth such as XLK (technology) and FXI (China), both of which are at decent prices now if you are willing to hang on for a while. I will keep the rest of my KBE for the ride, but feel better having some cash back in my portfolio so that I can take advantage of buying into other key long-term growth sectors as the market goes down.
Gregory
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