 | Your browser does not display parts of our website correctly. We use the latest technology available to provide you with a high quality experience; please upgrade your browser to its latest version to view the contents properly: |
The stock market is in a correction phase and we are going to use this to make money without shorting the market directly! We are using an ETF called SH. This investment seeks daily investment results that correspond to the inverse (-1x) of the daily performance of the S&P 500 Index. The fund invests in derivatives that ProShare Advisors believes, in combination, should have similar daily return characteristics as the inverse (-1x) of the daily return of the index. The index is a measure of large-cap U.S. stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 U.S. operating companies and real estate investment trusts selected through a process that factors criteria such as liquidity, price, market capitalization and financial viability. It is non-diversified.
SH price has broken the resistance level of $29.71. This level is now a support for this issue.
52-Week Trading Range: $28.30 - $37.93
Entry Point: $29.90
Stop Loss: $28.41
Target Price: $32.89
As market rallied to a new high, our short hedge on the S&P 500 did not pan out! SH closed at $28.40
