Markets Down Early
As I guessed yesterday, I “sold the news” and actually added some UltraShort S&P ETF (SDS) in an attempt to hedge against my long positions now that the Fed action was clear. As I mentioned, the QE was not really a “shock and awe” of which the markets seem to be requiring more and more, so when the action is only a small step, it isn’t enough. Today we saw that come to fruition with the markets opened about 200 points down on the Dow.
Furthermore, we have a fairly interesting thread going in the new message boards (of which you need to check out!) regarding possible future events and “crashes” and why as investors, we should have some dry powder ready to go if and when something happens. Click here to check out the thread.
It will be interesting to see if the invisible hand can keep the markets up going into elections. Man, listen to me! I’m turning into a conspiracy theorist more and more each day!