Shares: SPXU

ProShares UltraPro Short S&P500 (SPXU)

Update 5/7/2018: The Fisher Transform moved to uptrending on the SPY daily chart, and I exited my bear position on the SPXU inverse fund for a loss. I shall re-enter SPXU when the Fisher again signals a downtrend.

I have entered a bull position on SPXU using shares. SPXU is a short fund — it attempts to move the opposite of the S&P 500 — and a leveraged fund — it attempts to produce triple the return (or loss) for any given price move.

I entered the position because the daily chart Fisher Transform on SPXU is uptrending, and my Elliott wave analysis shows the S&P 500 in a third wave to the downside at multiple degrees. (See the SPY chart discussion in the May 3 Live post.)

So, a declining SPY equates to a rising SPXU.

The trade:

sym entry exit result (%) annualized (%) entry date exit date
SPXU 11.24  10.58  -5.9%  -535.8% 5/3  5/7

For my SPY options positions I’m relying on Elliott wave analysis to tell me that it’s time to get out. For SPXU, I’m eliminating the Elliott for exits and shall rely solely on the Fisher Transform to signal entries and exits.

I an do this because the position was placed the Robinhood Markets Inc. platform, which charges no commission on trades.

By Tim Bovee, Portland, Oregon, May 3, 2018

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

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