[Placing Buy Stop on ProShares UltraShort S&P 500 (SDS)]
Dear Member:
As I suggested in the Weekend Summary, I am not sure that the drop in the markets is over. In the event of a continuing fall, I want to be in a position to profit from the downside move. The ProShares UltraShort S&P 500 (SDS) are designed to move opposite the direction of the S&P 500 so I am placing a buy stop order to buy SDS if it moves above $56.65. My order will be a buy stop at $56.65 good for the day. If not filled today, I will reassess tomorrow.
DISCLOSURE: At the time of publication, I have no position in SDS.
Sincerely,
Bill Kraft
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