Near the close
There is a new commodity ETF, symbol DBC. It uses futures to mirror the performance of the Deutsche Bank Liquid Commodity Index. The index has base weights of 35% crude oil, 20% heating oil, 12.5% aluminum, 10% gold, and 11.25% each in corn and wheat. The index is rebalanced each November.
Earlier today the Dow was unchanged. Unchanged is a good status for option sellers. Time decay works against the option holder.
Looks like my impulse yesterday, to buy speculative puts on mining shares, and my panicky roll out on ABX (Barrick Gold) marked a tradeable bottom. Although I missed the boat, thank goodness I did not compound one mistake with another.
A long weekend coming, so plenty of time for postmortems and Monday morning quarterbacking.
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