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ProShares UltraShort Consumer Goods Message Board

  • buffettwagon buffettwagon Jun 25, 2009 2:26 PM Flag

    go figure -- I buy SZK this morning

    I thought that I needed to get in first thing this morning to beat the rush. Guess not.
    Of all the unanticipated (by me) events is this rise in consumer discretionary. I don't know what compelled me to buy just before that news. Longer term I'm bearish on the consumer. The consumer, afterall is losing his/her job, losing net worth (RE down), and learning to save. This must be just another blip.

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    • If you bought it this morning, you should be green by now. Greener still by next week, and laughing-your-ass-off green by late September.

    • I would hang on to it, there should be a sell-off at least by Monday. It is very hard to tell when the market will turn. The elite are running this market up one more time before the 2nd crash to sucker in peoples money. Earnings reports will be cooked up. This thing could last until Sept. I would like to get in and short the market but I learned my lesson. (lost $1,200 on short etf recently) My advise is wealth protection in the long term, things like GDX, HAP. Meantime I would be very cautious in both directions, meaning hold cash right now.

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