It's done like this. Buy a lot of end of day funds NASDAQ index funds that is the pure index and you have leverage (rydex fund with 2 or 1.5 times the index) it's a beaten up fund. So you think you must be in the market for the long haul, you buy and sell these but it's only the end of day price. You short the QQQ index for every $1000 invested in the fund you are short $2000 QQQ. Now if we crash you are safe and can start liquidating some of the end of day fund. Next day cover some of your short.(make money there) The key is that QQQ can be traded even after the market your index fund is fixed to end of day prices. check it out, better that poker !!!