The market had a free fall after I bought DXO. Dow fell as low as 6547 point. DXO dropped to 1.74 at some point. It bounced back as the market continue to slide. Today DXO stands at 2.42. I cashed out at 2.34. Although it was a bit early, I am pretty happy with the 18% return during one of the worst market downturn.
My other investment almost gave me a heart attack. I bought FAS (Financial Bull 3x) which move three times on the same direction with the financial sector. I bought it at 4.32. It went down the next day, and the next day, and even further the following day. It went all the way down to 2.70. I regret not having more money to put in at that point because I knew it will bounce back. It did last week. FAS came all the way back to over 5 dollars. I cashed out at 5.32. A return of 23% had capped this roller coaster ride.
At this particular moment, I am not sure where the market is going. So, I wait.
Sunday, March 15, 2009
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