Proshares UltraShort S&P500

I started a small position in the Proshares UltraShort S&P 500 ETF (SDS) at close to $80 per share. The UltraShort 500 is an exchange traded fund that tracks twice the inverse of the S&P 500′s daily performance.  The ETF peaked in the $130′s in November and has since pulled back to the $80 level. This is a short term position to try and take advantage of this erratic market. The market has gone up significantly over the past two weeks so I expect a pull back in the near term.