24 March 2009

Portfolio Changes

Staring in the face of this bear market rally, I picked up additional shares of FAZ at $19.51. That brought the cost basis of my FAZ position down to $29.52. FAZ closed today at $21.15, which seems quite a long way from $29-and-change, but remember, FAZ is levered 3X. For some perspective, here's the FAZ price chart for March:

FAZ's trading range during March is $18.25 to $115.50. That's what happens when you take an inherently volatile trading vehicle and combine it with a hot sector.

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