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Stock Market

Today the Dow reached a record intraday high and record closing high. It also got very close to 12000 (11948 to be exact). It also pleases me to say that my trading portfolio beat the Dow (trading portfolio  up 1.19%, Dow up .81%)AND the Nathan Portfolio (up 1.02%). About damn time. The Nathan Portfolio is still worth more, mostly because it is fully invested and my trading portfolio is not.

In other stock market news, ProShares has issued some new ETFs that short the market. As far as I know, these are the first such ETFs that has been offered. There has been a mutual fund called Prudent Bear that is based on shorting, but a regular mutual fund lacks a lot of the flexibility that ETFs do (such as intraday trading and stop loss orders).

This is a welcome new investment vehicle. I have tried using the Prudent Bear fund as a hedge before but the minimum three month holding time really limited its usefulness (I lost money both times I used it).

I don't think it's time yet to buy one of these. When I start hearing lots of people talking as if the market is going to go up forever, I'm in.

Nathan says he thinks the stock market will reach 12500 before it starts descending. I know he is a guy who wanders the streets talking to himself, but his prognostications have been pretty good so far. We will see.