I agree that long term, you should not short anything, especially a 200% inverse ETF. I have made a ton of money so far on SRS last year and was doing great this year until yesterday and today. I have been long URE several times when the REIT's are oversold, but I think over the next 3-4 months, IYR and RWR will hit their 50 and sometimes their 200 day moving average and then drop from there (just like they have done in the past 12 months.) I think that the slowing growth, increasing inflation, a Fed Chairman that will do just about anything to keep the stock market afloat, will spell trouble for the stock market this summer. I will probably be 100% long again, (probably not REIT's though) by Nov, but wont be shorting much else either after May. I have 4500 shares of SRS right now. I am in around 109 on average. It should be interesting to see if SRS holds at its current support level or goes back down to 97.