Last week was the worst week of the year for the US equity markets. CCI thought there was a chance the market might continue this sell off more substantially going into or over the weekend.
So, ......Once again, we purchased the double short etf for the S&P500 (SDS) on Thursday to provide a small hedge to the portfolio.
And......Once again, the market......did nothing.
Closed the position for a negligible gain today, essentially another tie.
0-1-3 trying to use the double shorts as short-term hedges this year.
I'm not sure if /when market volatility will return to make holding these leveraged short etfs profitable again. However, we will keep these in our tool kit, and continue to look for opportunities to use them effectively.