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Make Some Money Short On The DJ Materials Index And Buy The UltraShort Basic Materials ProShares (SMN)
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If you think stocks like Monsanto (NYSE: MON), DuPont (NYSE: DD), Freeport-McMoRan (NYSE: FCX), Mosaic (NYSE: MOS) and others in the DJ Basic Materials Index will fall, well then you should take a closer look at the UltraShort Basic Materials ProShares (AMEX: SMN).
Ultra-short funds provide more hedge than ordinary short ETFs. Allocating 2% of a portfolio to a double-short fund would hedge 4% of it against a decline on a given day.
The Ultra Short Basic Materials ProShares seeks investments returns twice the inverse of the daily performance of the Dow Jones U.S. Basic Materials Index. The UltraShort Basic Materials ProShares top five holdings include the aforementioned Monsanto, DuPont, Freeport-McMoRan Copper & Gold, Dow Chemical (NYSE: DOW) and Alcoa (NYSE: AA).
SMN's Index sector weightings include approximately 55% towards chemicals, 27% industrial metals, 12% mining and 5% towards forestry and paper.
If you think the market will continue to drop, it may be advantageous to buy the UltraShort Basic Materials ProShares, as this sector likely has more room to drop.
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Monsanto Company (Monsanto), along with its subsidiaries, is a global provider of agricultural products for farmers.
Freeport-McMoran Copper & Gold Inc., through its wholly owned subsidiary, Phelps Dodge, and its majority-owned subsidiary, PT Freeport Indonesia, is a copper, gold and molybdenum mining company.
E. I. du Pont de Nemours and Company (DuPont) operates and manufactures a range of products for distribution and sale to different markets.
The Mosaic Company (Mosaic) is a producer of phosphate and potash combined, as well as nitrogen and animal feed ingredients.
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