FXP UltraShort China 25

I see that Proshares listed their new ETF the new Ultrashort (2x) China FTSE Xinhua 25 today. Anyone assesed it?

A way to bet, gamble, trade on the Chinese market falling? Thoughts?

FXP

 

Opened at 75.25 and went as high as 88.60 :eek:

Still closed up +5.65% at 79.50.

 

Sweet. Thanks for pointing this out.

 

So basically you buy it banking on a fall? Can you short it banking on a rise?

Sorry I am a futures guy and have been curious to how these 2xx's funds work. I heard they were 'buy only'.

 

Short it that's like a double negative. Nah if you think China has further to rise just buy a normal ETF. Not sure if they offer the double leveraged (2x) version though like the ultrashorts.

Actually the other popular one is the ultrshort financial SKF

http://finance.yahoo.com/q/bc?s=SKF&t=3m&l=on&z=m&q=l&c=

 

Another short fund:

DUG:

The investment seeks daily investment results, before fees and expenses, which correspond to the inverse of the daily performance of the Dow Jones U.S. Oil & Gas index. The fund normally invests 80% of assets to financial instruments with economic characteristics that should be inverse to those of the index. It may employ leveraged investment techniques in seeking its investment objective. The fund is nondiversified.

http://finance.yahoo.com/q?s=dug

 

Why wasn't SKF up today?

 

SKF is short 2x financials.
UYG is long 2x financials.

XLF was up.