for me. DOW closed down 170 pts. (-1.14%), NASDAQ down 2.16% (now I really regret not trusting my instinct and bought QID at 20.40 yesterday's after market, it went up 3.88% today. You lose some and win some.) and S&P down 1.59%.
Did not really want to sell any of my shorts, but my smart friend called and suggested me to sell some to take profit. Therefore, sold some DXD & EEV. Should probably keep the EEV. Well, profit is profit.
Today's market was very strange. Some REITs actually went up, quite a lot. I asked my friend why they rose today and he believed they just dropped too low lately and now became good values. I am not sure how right he is but his holdings, NLY was among one of the REITs that rose today when the market tanked.
Another strange thing is while GLD and SLV rose only slightly. You will think with US on the brink of striking Syria, both will go higher. More strange is almost all the gold and silver mining stocks (AUY, SLW, IAG, ABX, AEM, FCX) tanked badly. My favorite GGN dropped 1.16% today but I am not going to sell any. Its yield is 12.98% at today's closing of 11.09. If it drops some more, I will keep buying. I was lucky in selling my GDX at 30.70 yesterday and used the proceeds to buy GLD and GGN, otherwise there will be a lot of hurt today since it dropped some 4.31% and closed at 29.10. That is indeed very risky to play with gold and silver mining stocks. Did anybody sell their holdings of silver and gold stocks/ETFs/CEFs?
Well, FSC did not drop enough for me to get in, closed at 10.41, tempted to buy some but decided to wait with this market. Hopefully can get in at around 9.80-10. Good timing in selling off my PSEC shares at 11.39 on last Friday (Yes, I did have some shares, believe or not, so I can call myself a shareholder, always keep just a few shares too). Almost tempted to buy it back at around 11.22 today but I believe it will continue to tank to or below $11 on or after tomorrow, its ex-div day. J
By the way, I am up 0.24% today, not particularly spectacular not too bad. I am more proud with my wife's account though, it only went down 0.04% today and that is pretty darn good considering how all three indexes dropped. Now if the market bounces back tomorrow it would be perfect because I can replenish the shorts I sold today.
Any good buys today? I could not find anything worth to buy. Oh, not true, did buy a few FAM at 13.86, cannot resist.