[Opening Position in ProShares UltraShort Dow 30 (DXD)]
Dear Member:
The major indices are down again today. The ProShares UltraShort Dow 30 (DXD) afford the opportunity to profit from downward moves in the Dow and can also serve as a hedge against a Dow Industrial portfolio. I often have a position in DXD, and do now, as a partial hedge against my portfolio. While market direction does remain uncertain, it does definitely have a bearish complexion so I am placing an order to buy DXD at a limit of $55.65.
DISCLOSURE: I have a position in DXD and have written calls against that position.
Sincerely,
Bill Kraft
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