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AlbertJayNock

Stock Market

The stock market plummeted again today, but I managed to make a little money. I bought DXD (an ETF that goes up twice as much as the Dow goes down, and vice versa) this morning after the Dow had begun falling, and sold it this afternoon for a small (2%) profit.

I am not doing as well with this inverse ETF's as you might think. I had DOG and SH in my portfolio, but got stopped out of them before the election.

I still don't know whether I should trade them or just use them as a hedge. *Sigh*. Like I said in a previous post, betting against a down market is a lot harder to do successfully than betting on an up market.

Comments

Good on you. Hopefully things won't get much worse - but with Obama's bad economic plans, I'm seriously wondering.

My mother has lost a lot of value in her shares during this economic downturn. I'm just hoping things won't get worse before they get better - Yes, I know that New Zealand has a better government now, but conservatives are certainly not a guarantee of less money wastage or more intelligent spending.

At least they're, for now, better than the Labour Party. Then again, a lot is riding on the American market, and with Obama we don't know what will happen.

Edited at 2008-11-20 11:07 pm (UTC)
I share your concern about Obama's economic plans. All the comparisons of him to FDR are making me really nervous. The stock market didn't come back for 20 years after 1929, and many blame Roosevelt. Hopefully the makeup of congress will change in 2010 and there will still be some time to put breaks on some of his policies.
Then again, Obama may go a bit more centrist. As President he'll probably have to.

I'm not sure about the 1929 onwards comparisons, because of the entire World War II factor. Of course, the entire Great Society thing would have contributed more than a fair bit...pardon me. I really don't know that much. :D