[turbo6bar]

I've read the double inverse is only suitable as a short-term vehicle and not for long-term holding. I still ache from getting slaughtered in short-term homebuilder put options, so I'm not jumping in this game. I was right on the direction, but wrong in timing.

I believe your theory is correct, and you only need patience.

jyl, wouldn't trading CDS on an exchange create more problems with regards to market valuation? The swaps are probably being valued optimistically now, and I can't see how exchange trading would support those lofty opinions.