Tuesday, March 4, 2008

Lost on HXD gain on FXP

because I sold both today. Sold HXD.TO at $20.59 and FXP at $96.62. So I lost about 7% on HXD.TO and gain about 8% on FXP.

Markets went down 2.5 days in a row, not surprise to see it came back a bit before end of today. I always like to see which stocks didn't go with the market. Those stocks may go up later, but usually not by much. As well, by the time they go up, they probably couldn't lift the market to go with them. Then when they resume to go down, they will go down faster than the market.

Financials again is one of the worst. XLF by itself is okay, but some individual financial companies are not. Even there is rumour (or bet) that the Fed is going to lower the rate by 75 basis points, doesn't seem the market reacts positively to it. So far we got quite an amount of good news but seems like it only slowed down the slide but not stopping it.

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