FAZ - Folks do what you want to here, but, as you know, FAZ is the 3X inverse ETF on the financial sector. The bank stocks have started to recover and have room to run. Just check the charts of BAC, MS, GS, C, WFC, JPM, etc. Sure they have rallied, but none are technically overbought yet. Neither is the S&P.
Plus, even after the recent rally, most of them are trading under book value.
As I have said in prior posts, barring any further Black Swan events out of Europe, this rally is ON and institutions are actually chasing it so that they do not end up down YTD when the S&P is up.