Bulls retreat, noses bloodied.

Posted on Oct 30, 2009 by in Letters

30 minute chart of Dow, last 10 days.  So we put a partial hedge back on.  We're beginning to feel like day traders and we don't like it at all.  Yesterday appeared to break the 10 day down trend but today appears to cancel yesterday.  We are beginning to feel that some serious bear attacks are being made on the market and urge readers to find ways to hedge or protect their portfolios.  We have prevIously mentioned the leveraged ETFs --SPXU, FAZ, QID.   The recommended way to do this is to scale into the hedge, just as one would scale into any position.

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