?

Log in

AlbertJayNock

I Beat The Market Today

The stock market got clobbered today. The Dow closed down 246.79 points, or 1.92%. Thanks to the presence of ProShares inverse ETFs in my portfolio, I managed to close up .39%. Not a lot, but much better than any of the major indices. The only one of my long postitions  that was up was POT, a fertilizer company. (Lots of opportunities for jokes there.)  My beverage stocks were down, but not as much as any of the major indices.

Todays close of 12606 is 11%  down from the Dow's all time high of 14164, which certainly constitutes a correction, the first real one we've had. I suspect it is going to go lower. I'll probably load up on some more inverse ETFs next week.

I may also make some more options trades to take advantage of the declining market. It has been rather volatile, so I might  try a straddle or a strangle.

Comments