It has been halted. Any idea why?
Why is skf frozen
Started by
isaac613
, Sep 19 2008 09:02 AM
5 replies to this topic
#2
diogenes227
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Posted 19 September 2008 - 09:39 AM
It has been halted. Any idea why?
According the CNBC, its business is to short financials and that has been banned. So, presumably, it will be halted until the ban is lifted (at least 10 days). Let me stress, that's according to CNBC. Maybe check with Proshares.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#3
isaac613
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Posted 19 September 2008 - 09:52 AM
I did actually. They are not sure if they are allowed to trade skf. They will call me back. Its bs though. Not allowing shorting is one thing, I bought skf long.
#4
U.F.O.
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U.F.O.
Posted 19 September 2008 - 10:33 AM
You can sell but can't buy. Just what I was talking about last night.
U.F.O.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote!"
~Benjamin Franklin~
~Benjamin Franklin~
#5
linrom1
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Posted 19 September 2008 - 11:30 AM
SKF does not short, they buy swaps. There might be counterparty issue, which is a problem with most ProShares ETFs. Regardless, you can't sell your shares if buying is not allowed. These ETFs can be redeemed in blocks with the issuer. With these ETFs it is sometimes better to short Ultra Longs rather than buying Ultra Short ETFs.
Edited by linrom1, 19 September 2008 - 11:33 AM.
#6
linrom1
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Posted 19 September 2008 - 11:40 AM
It's trading now, down 22%. 
