Tue 27 Feb 2007
Remember That Wrong Picture, It Helped Me Make 3% Today
Posted by RichSlick under Money Trades
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On February 8th, I wrote a post entitled, “What’s wrong with this picture?” which was a graph of the Dow moving diagonally up almost at a straight 45 degree angle. Folks, a chart like that is a big warning sign that something is a miss and today proved that point.
Because that chart looked way out of whack, I took a defensive position and bought 100 shares of DXD to capitalize on the discrepancy. Today I sold off my 100 shares and made a cool 3.5% profit in under 30 days. DXD is an ETF that is double short the Dow and it came in mighty handy today.
Yet another reason I love ETFs!