New Idea

In this massive rally we've experienced, credit spreads have tightened massively , meaning the amount over treasuries (treasuries, considered to be risk free - yeah right but thats another story for another day) that investors demand has decreased. Preferred shares have improved massively, going from high teens yields to below 8% in a bunch of different names. I think this is way overdone considering the fact that the economy hasn't improved its only stopped getting worse..That being said Im shorting PFG, which is an ETF which holds preferred shares, Im shorting it at 16.38 and looking for a bull back to 14.5 to 15. Wish me luck

JB