This week, majority sessions are ending in red. Rumour and glitch in trading system on Thursday have triggered the massive sell off, Dow Jones at one point sink close to 1000 points.
However, two shares in my watch list shoot up high as markets drops. They are the inverse/bearish ETFs offered by ProShares and Direxion Funds. These two ETFs bet against the financial sector with leverage feature; They are:
- ProShares UltraShort Financials (ETF), SKF
- Direxion Daily Finan. Bear 3X Shs (ETF), FAZ
These two shares have gone up high in 2008 - 2009 financial crisis, correction in last Jan/Feb. It would be a good choice to hedge against the downtrend, or ways of earning some handsome profit while waiting a chance to buy at dip.
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