SDS Proshares Ultra-Short ETF S&P 500
Trade idea of the Week
The Trade Ideas scan that looks for pullback entries near the 20 day moving average points strongly to a Proshares ETF that happens to be a proxy for going short the S&P500. The trade is considered live at 13.55 and the suggested stop is 13.35. This pattern is suggesting the market may be subject to weakness this week. If not, the stop is very tight and the risk is managed.
If stocks do get weak, this Proshares ETF will move higher as the actual market moves lower. In a sense, this Trade of the Week is a hedge against the long positions called in the past weeks. Since there is only 20 cents of risk in this trade, a move above 14.00 would be a nice quick reward on 20 cents of risk. You can always consider selling half at 14.00 and letting the rest work should the market remain under pressure.
You can also Check out “Holly” our New Artificial Intelligence Trade Ideas Investment Discovery Engine on our Showcase Page on the My Trading Buddy WebsiteYou Can also view our LIVE Stocks Watchlist on the My Trading Markets Analysis Magazine HERE – with Three groups of Stocks to Watch during the week. The Stocks Watchlist data will be for; Top 5 Stocks Up the Most over 5 Days % with Positive EPS, Top 5 Biggest % Movers into the Close and Top 5 Turnaround Candidates after Gap down.