"Start buying financials. I think that the time has come to start dipping your toe in the water, and I mean exactly that. Move slowly. Don't build your whole position now; just start the process of adding to your financials weighting over the next couple of months. 

"Individual names I like are Wells Fargo (NYSE: WFC), US Bancorp (NYSE: USB), Toronto Dominion (NYSE: TD), and Bank of America (NYSE: BAC).

"ProShares Ultra Financial ETF (AMEX: UYG) offers the dual advantages of one-stop shopping and leverage. It's not an investment for the faint-of-heart, but there is potential for a big capital gain for those who can deal with risk. 

"The price tumbled from a high of $72.13 in February 2007 to a low of $14.75 earlier this month. That's a gut-wrenching drop of almost 80%! But we may have seen the bottom.

"The components of the Dow U.S. Financials Index read like a Who's Who of Big Finance. They include JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs. The ProShares Ultra Financials ETF is a buy only for aggressive investors."