ETF Loser of the Day - Greece

The Global X FTSE Greece 20 ETF ($GREK) is falling another 4% today as the odds of the country pulling out of the EU to go at it solo increases. The Greece stock index is trading at the lowest level since 1990!

The ETF is now down 45% from the mid-February high, but is only down 20% for 2012 due to a big rally to begin the year. Investors hoping for the best out of Greece have been buying the ETF on the pullback, but have been getting burned.

This is one situation where I would step back and let the gamblers play with this ETF and let them have restless nights.