Monday, November 24, 2008

Bounce

Well the markets finally bounced, with big gains at the end of Friday and today, Monday. You could make a killing in this volatile environment if you could time the bottoms and tops. For example, UYG is up 50% from its lows 2 days ago (Friday), mainly due to bank stocks surging today. Unfortunately, since I bought back on Wednesday, I was already down about 28% by the time it hit the lows on Friday, so the huge +52% gain from there only brings me to about +10% as of today. So I need the rally to continue in order to actually make any reasonable amount of gains on it.

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