ProShares UltraShort Dow 30 (DXD) –This Exchange-Traded Fund (ETF) seeks daily investment results that correspond to the inverse of the daily performance of the Dow Jones Industrial Average (DJI) index.
The fund normally invests 80% of assets in financial instruments with economic characteristics that should be inverse to those of the index.
In the past year, the Trade of the Day has referred to the DXD as a way for traders to grab some profits in down markets, and those trades have usually been successful.
Now DXD is again in a buying range following a rally in the market. The target for this trade is $73.
Get Sam Collins’ Daily Trader’s Alert e-mailed straight to your inbox each morning before the opening bell absolutely FREE!
In addition to getting instant access to his Trade of the Day, you’ll also receive, in the same e-mail, his Daily Market Outlook so you can start your day off right by positioning yourself for profits!