Domino412

Friday Wrap: This Market's Running on Empty

Regarding SDS and the "inverse" etf's...I got caught up last year buying into UYG , the pro "up" financials. I started a position at 20, kept buying in, got heavier as it went lower. Really "gunned" it when it hit around 8 thinking surely that was the bottom in financials." Wrong," it went below 3, I got out on a bounce at 3.12. Even now its below 6. It will never get to 20 again. These products are nothing but financial suicide! Stay away! I lost enough to buy a fairly nice vehicle, and Lord knows I need one now.If you want to gamble, might as well go to Vegas...and at least enjoy some pretty women on the way down.