Added shares of Proshares UltraShort Real Estate ETF(SRS) right at market close. This real estate exchange traded fund tracks twice the inverse price of the Dow Jones U.S. Real Estate Index fund. This ETF has declined from $260 a share just three weeks ago to $77. At below $80 it was too tempting not to buy. I think real estate is bottoming but I expect it will decline in the near term.
Proshares UltraShort S&P500
December 9, 2008 By Leave a Comment
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.
