12 August 2008

Bought Some UYG

A brief follow-up to a brief post this morning:

As the financials sold off today, I reloaded my position in UYG, adding shares at $21.66 and at $20.97, for a new cost basis for my entire UYG holdings of $21.67. I bought back a bit over 50% of the position I sold yesterday.

As per Todd Harrison and Barry Ritholtz, I still believe we are experiencing a bear market rally, so my long positions in UYG (and DDM) are for a short-term trade.

Speaking of DDM, I attempted (and failed) to add to my DDM position sub-$63. My order almost filled at around 3:30 today

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