I shorted $SCO today

I added a short position, $SCO Proshares Ulrashort Bloomburg Crude Oil.  This is an inverse ETF, so if the price of oil goes up, this goes down.  My strategy is that oil has bottomed on a long term basis and has had a brief fall back, which I consider to be short lived.  So I am short $SCO, if it goes down I make money.

I often get questions, why not just buy $UCO (it's opposite number).   My answer always is, look at the long term chart.  These leveraged ETFs decay over time.  Look at the year to date performance.

$UCO is down 8.33%
$SCO is down 27.14%

Yes, both of them are down, even though, on a daily basis, they are supposed to be opposites of each other.  Enough said.

A rough day otherwise in the markets, although I wasn't hurt too bad, for some reason the Russian market was up and that helped me.

	Close	Initial Short	Gain (Loss)	Percent
NUGT	9.39	10.47	1.08	10.3%
BIS	29.88	29.75	(0.13)	-0.4%
TZA	9.60	9.90	0.30	3.0%
VIXM	54.76	54.60	(0.16)	-0.3%
RUSS	32.16	30.40	(1.76)	-5.8%
CORN	22.41	22.68	0.27	1.2%
FAZ	11.14	11.45	0.31	2.7%
UVXY	40.31	40.68	0.37	0.9%
FXP	29.43	27.58	(1.85)	-6.7%
XIV	44.72	46.56	1.84	4.0%
SCO	55.85	55.93	0.08	0.1%