ProShares Short S&P 500 (SH) — This exchange-traded fund (ETF) seeks daily investment results that correspond to the inverse of the daily performance of the S&P 500 Index (SPX).
Since this is not as highly leveraged as the “ultra ETFs,” it may be used to more conservatively hedge portfolios against a market decline.
Strong resistance on the S&P 500 rests at 920 to 930, and it closed at 920 yesterday. The purchase of SH could be an excellent choice in a market that will probably not break to new highs.
The target for this trade is $73.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted at samailc@cox.net. You can also check out an archive of some of his most recent market outlooks.
