|To my surprise, the market just keeps going up. The DOW gained 4.1 percent and the S&P gained 5.3 percent for May (both on the back of incredible two-month gains), while the Nasdaq still managed to climb 3.3 percent. For the year, the DOW is down -3.15 percent, the S&P is up +1.76 percent and the Nasdaq is -- get this -- up +12.5 percent!
I have stood firm in the bet against the financials via FAZ (3x Short Financials) and am now sitting on a (paper) loss of about $217,000.
$200,000 is a lot of money. Hell, $17,000 is a lot of money.
It makes me sick to think I've been so "wrong." And I put "wrong" in parenthesis because the market, by definition, is "always right" regardless of what the other facts or data tell you. I'm "wrong" to the tune of $200,000, for now.
Anyway, everything else is going well. The house is fantastic and I am beginning some remodeling which will ultimately cost about $200,000 when complete. Ironic, huh?|