Friday, September 19, 2008

A real test

I've just woken up to the news that the SEC has temporarily banned all short selling on financial companies, and that S&P 500 futures are 10% above yesterday's low point. That would nearly bring SDS down to the price where I bought it last month, which is a bummer of a development in less than 24 hours. I'm going to stick to my plan of selling off the rest of SDS today and Monday - here's hoping Monday gives me another dip.

In the long run, this is one of those quick rallies which tend to be bearish for the market.

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