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Stock Market

I started out the day feeling like a real maroon, stock-market wise. After my exuberance over China in my last post, two of my Chinese stocks (including the Chinese Life Insurance Company I was crowing so loudly about) got stopped out. This left me enough funds to purchase a couple of other stocks. Since we have been in a bull market for quite a while, I decided this was a good time to purchase the Proshares Short Dow30 , as well as the Proshares Short S&P 500. These are ETFs which respectively short the Dow and the S&P 500. In other words, they go up if the indices they track go down and vice versa. (I've written about them in previous entries). We have been in a bull market for a while and I thought it was time to buy them.

I was humbled even more when I saw that both of these indices closed up. But then I looked more closely at my trading portfolio on Yahoo and realized that I still managed to beat the market.

The Dow was up .59%, the S&P 500 was up .63%, and my trading portfolio was up .73%. I know I post a lot when I beat the market and am not as forthcoming (although sometimes I am) about the market beating me. But today is special. The gains in the Dow and S&P were subtracted from the gains in my other stocks, and I not only ended up ahead, but ahead of the indices. So I didn't just beat the market, I beat it with one hand tied behind my  back. A nice end to a day  mostly spent feeling like an idiot.