Monday, June 4, 2012

The stock market crash that wasn't

I got up this morning thinking that the stock market was sure to crash. CNBC even had a special program last night (Sunday) predicting it. I was anxious to get out of my Whole Foods option and into HDGE. I was happy that I achieved that before the market opened.
Then the market moved slowly downward. It turned out that I don't have enough HDGE to really make any money in a downturn. Towards the end of the trading day the market moved up. It ended up settling mixed. The Dow was down 12 points and the S&P and Nasdaq were both up slightly.
Tonight, Cramer said that everything was still in place for a crash, so I'll leave it in HDGE, which is an Exchange Traded Fund that bets against the market. I intend to leave it there for at least a month or until the market takes a big plunge. I always seem to take things out because I feel that I'm on the wrong side. This time I'll really try to just leave it alone.
I just put an order in to buy another 30 shares of HDGE. It's after hours so it might not be filled tonight. I'll check on it before the market opens tomorrow. By that time I might change the order to lower the price and increase the number of shares. We'll see what happens.
That's all for now.
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