Closing the Hedge

By Travis Johnson, Stock Gumshoe, December 18, 2008

I’ve shut down my position in the UltraShort S&P 500 ETF — the ride was a little too hairy, and it was not a good enough hedge for the larger positions in my portfolio.  And to be honest, though many will (and have) accused me of being too optimistic, I’d rather be looking for long-term buys right now, with prices like this.  I remain largely on the sidelines lately in terms of new buys and sells, but I do keep looking.

With the wild rides up and down I ended up closing my position in this ETF at a small loss.

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