Trade

Bought 23 SDS (ultrashort S&P 500) at $126.71. The market has fallen off the cliff it's been teetering on the edge of for the past month. I expect another vicious downdraft that should take the S&P down below 700. I will reevaluate SDS when the S&P drops down around 660.

This is just a trading play. I have very little leverage at this point, so I feel comfortable trying a new strategy. In the past, I would never have jumped on the downdraft like this. Instead, I would have tried to anticipate the market move. However, this might be a good trade, at least based on the fundamentals.