In breaking news today.....Greece defaulted.
CCI thought either this event triggering credit default swaps and/or momentum money going to the sideline for the weekend might make today a good day to hedge the portfolio by adding a little of a double short etf to the portfolio.
Hence, this morning CCI bought the double short for the NASDAQ 100 (QID)
I just went back and checked. From the point of purchase this morning until the end of the day the etf traded between down $.12 and up $.06. That "huge" move is in a double leveraged etf.
That is certainly a....double yawn
Near the end of the day, CCI got stopped out at break even.
0-1-2 this year trading the double shorts.
Not sure why all the market moves this year seem to be pre or post market, but this does provide a feeling of complacency. Who knows, but that is sometimes a per-courser to a market pullback.