Bears,

I didn't ask the risk question. I'll comment on risk in a separate reply.

As to Delta, I've never invested in a bankruptcy recovery. Certainly did well for the K-mart / Worldcom crowd - depending when they jumped in.

I like ETFs because they are an easy way to invest in indexes. I favored ETFs when I rolled a 401k to an IRA, it was a quick and easy way to establish the allocations I wanted. I currently only still hold DVY and EEM from that rollover. Both have been nibbled down as I find individual stocks I would prefer. I don't care for sector ETFs; I have never tried to trade in and out of sectors. I think healthcare would be a good long term sector play, but would likely go with a managed fund.

Zz

P.S. - I've always thought you had the best username on the boards.

P.P.S. - I hold some NUAN as well.