The TBT is starting to base – Doug Kaas Adding to his Position Today

Published on Monday, 23 August 2010 11:36 Written by Danny Miller

New York, Aug 23^rd (TradersHuddle.com) – The ProShares UltraShort 20+ Year Treasury ETF (NYSE:TBT) is trading higher this morning actually outperforming other ETFs, as this ETF’s decline appears to be slowing down in the past two trading sessions.

The ProShares UltraShort 20+ Year Treasury ETF seeks twice the inverse of the daily performance of the Barclays Capital 20+ Year U.S. Treasury index. The fund normally invests at least 80% of assets to investments that, in combination, have economic characteristics that are inverse to those of the index.

The famous market guru Doug Kaas, President of Palm Beach based hedge fund Seabreeze Partners said on his twitter feed today that although his timing has been terrible he was adding considerably to his long position in the ProShares UltraShort 20+ Year Treasury ETF.