Bulls Betting Obama Bank Rescue Plan Monday will Extend the Run

The Bulls ran on Friday and that bet is on the Obama Bank Rescue Plan to be unveiled on Monday, it could help extend the Bullish rally into the coming week and give us all new hope.

Treasury Secretary Timothy Geithner will outline the Obama administration's new proposal to rescue the banking sector in a speech at noon on Monday at the department's headquarters. Geithner "will explain how the financial stability plan will be critical in supporting an effective and lasting economic recovery," the department said in a statement. Spending more money on ailing banks is likely to be a bitter pill for Congress to swallow. Treasury said the plan would strengthen "accountability, oversight, and transparency in how taxpayer dollars are spent."

Any good news or concrete plan could help sustain Friday's rally and you can bet the Bulls will betting in spades early next week.  The ETFs that will be played heavily Monday will be the Direxion Large Cap Bull 3X Shares (ETF) (Public, NYSE:BGU) and the FINANCIAL BULL 3X (Public, NYSE:FAS).  The FAS finished Friday's trading session up 19% and volume exceeded 79 million shares.  Considering the average volume for the FAS is around 32 million, expect more buying and selling on Monday to cash in gains and place bets that the Financial sector is going to recover (at least in the short run).

Disclaimer: No positions in any of the securities mentioned in this publication.