The Ultrashort S&P 500 ETF (SDS) aims to track the S&P 500 at two times the inverse.  So, basically if you want to be short the S&P, this is a good vehicle for those who can only trade stocks.  The SMG Model Portfolio has added 100 shares of SDS today.  The view is that in spite of the Fed’s lowering of rates and foreign currecny loans/swaps, there is still more downside to the market.

Regards,

SMG Staff