The problem with shorting BOIL and KOLD are multifold .... firstly KOLD can be hard to borrow .... currently 13% annualized at IB. Secondly there's always some risk of a forced buy in if the shares are no longer available for shorting. Thirdly, while these ETFs inevitably decline over the long term, they can also rally several 100% in the short to midterm, which can be very painful if one is short. Clearly shorting should be done only with very small positions.
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