Am becoming distrustful of this market. It is having a wicked time getting through S&P 900. And even if it did go through 900 there seems to be all sorts of resistance above that.
I bought some double short ETF’s (SDS) this morning. Will hold recently acquired positions now that I have some downside protection. But am not hedged 1:1 so a down market will hurt, an up market w/b good.
The Bad Bank would help things as would the program being discussed to stimulate auto buying. But the whole thing sure smacks of Big Brother. For now, however, I am more interested in what these programs do for my portfolio.
Schering Plough preferred (SGPprB) had a dip this morning so I bought a starter position. Am still about 85% in cash.
