As I expected, the stock markets plummeted quite severely today, over 2% for S&P500. This has instantly relieved its overbought condition. I think there is a good chance that stocks in generally will shoot up high in the next 2 weeks towards the year end. I plan to take the opportunity for a speculation for this year-end rally. I hope tomorrow is still a down day so that I may get a better entry price.
There are a few ways to bet on the rally. The mining stocks for gold and silver are probably the most undervalued ones at the moment. I think this is the least risky sector to take a ride. GDX or GDXJ are good ones for gold miners. If you can bear more risks, SSO, a 2 x bull for S&P500, is a good choice. Two weeks ago when the market plunged I got in both and am still hanging on with them. This time I'm thinking for a more risky one, a 3x bull for S&P500, UPRO. Hope I'm right for a quick short-term profit.
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