PROSHARES TR (SDP)

lol. this is a death-trap.
lets start with the nearly 1% fee.....
Now lets look at what this thing is actually shorting (in an ultra - put accelerated manor).
TXU just happened - the largest LBO in world history.

Nuclear rollout coming.... ?
The Energy Bill from a year or 2 back...certainly laid a favorable groundwork for a push into this energy....
The new powers (growth - emerging BRIC etc... are going to be laying out some of these as well)
Thus the uranium price jumps.

These large utilities have nuclear exposure in some manor -
EXC, ETR, SO, FE, AEE, D, DUK.....and I would advise buying a basket of all of them. 4% yields. Excellent managements.
SO - for example - is very diversified. They even have a very nice telecom company subsidiary that I think could be spun-off. (fiber laid along gas lines - great move SO)

EXC is in my opinion the most levered to a nuclear future.

Large (massive) subsidization will help bear the massive cost for the first companies to build the new nuke plants. I would guess that EXC will be one of these.
I really like SO as a partner to EXC positions because of SO's diversity and much lower valuation.

In a nutshell -
1% fee
+
4% yields
+
great management
+
low interest rates
+
nuclear
=
this goes down a ton