Ouch! Out of SRS again.

Just dumped my SRS US Real Estate short ETF, following the post-G20 rises, at $39.07 (about £26.33). That's a sterling loss of about 30% - ouch indeed.

The Long and the Short of it

Gratuitous Asian totty pic

So, have we hit the bottom yet? I don't really know, alhough I doubt it. The broad equity gains that we've seen over the past few weeks look more like a bear market rally to me, than anythng bigger. But, I do feel justified in increasing my equity exposure.

If you will recall, I bought into Singapore last year, on the basis of the financial soundness, good dividend yield and likely future bull market participation. Further to the "Asia as the future" theme, I have today bought into the schroder Oriental Income investment trust (SOI.LSE), at 75p. SOI invests in a broad range of Asian equities, and offers a 7%+ dividend yield, as well as a discount to NAV of over 9%. As with EWS, I intend to hold this one through the current crisis and beyond, while soaking up the divi's along the way.

But, as way of a counter-weight, I've also gone short again, via the Proshares Ultrashort US Real Estate ETF (SRS.NYSE), buying at $54.66 (about £38). I've traded this one successfully before, and I'm using my short-term moving-average methods again (this is not a buy and hold investment).