Is the current market a bouncing bomb?Looks like the current market is doing its best to whipsaw all the short-term traders into oblivion. So, we have a rally
before Obama is elected ... and then a decline. Asian (and European) markets jump on news of the Chinese 4 trillion yuan stimulous package (which, unlike the U.K., they can actually afford ... hmm, wonder if they'll be selling off any T-Bonds?) ... and then swoon in the States because of GM and other companies' woes ...
Anyway, my technical signals told me it was time to sell US Real Estate again, and it seemed like a good hedge to my Ultra S&P500 ETF, so once more I have bought the Ultrashort DJ US Real Estate ETF (SRS), this time at $129.65 (about £83.06). I see that it's up by over 14% at close of day, so it's looking good, although I expect another zig tomorrow, following today's zag.
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