Bought shares of ProShares UltraShort Dow 30 (DXD) for my short term trading account. I now have 4 different ETF’s in my trading account that are for a short term pullback in stock prices. I bought these shares just below $51.
As stated before I am also taking some profits in General Electric. I probably should sell some Wells but that is one of my core long term holdings. If it drops as I expect most financial to continue to do I will use that opportunity to accumulate more shares. One of the main reasons that I believe that we are due for a major pullback is because people are not investing based on fundamentals but on momentum. When people see the market decrease they become afraid and that selling begets more selling.
