Time to pull out a few more letters from the Fast Money mail bag. That's right, the guys answer your questions. On Friday Pete writes “could you offer some insight as to what is causing the amazing volatility we're seeing..”
#1 Phil from Maine
Phil asks via webcam “With the volatility in financials, can I buy the Financial Select Sector SPDR (XLF) on a dip or should I wait for more of a shakeout?”
Guy Adami recommends Phil put 15-20% of his cash in financials, and then wait for a few weeks just in case “the other shoe drops.”
Karen Finerman agrees – don’t jump in with both feet here, she says.