Tuesday, June 16, 2009

Still Waiting...

The market has followed up yesterday's sell off with a pretty weak attempt to move higher, and stocks have dropped again this afternoon. I picked up some shares of the double short S&P 500 fund (SDS). I've been unsuccessful before with this (in April and May), but wanted a little downside exposure in case this continues. Although I don't have a lot of long exposure, I expect to add significant long positions if we see better prices. This may be wishful thinking, but I'm going with my gut on this one. Until then, I may add some more shorts if we get more days like this (weak attempts to move higher, etc.)

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