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The main problem with long narrow gardens is that they can feel like you’re standing in a corridor. In a long, narrow garden your eye is drawn straight to the boundaries making the space seem small and claustrophobic. This type of garden does not invite exploration and the furthest parts of the garden often remain dark, dank and unused. Counteracting the claustrophobic feeling and giving the impression of greater space and depth are the main challenges when designing a long, narrow garden.There are three main ways to deal with the problems of a long-narrow space. One strategy involves changing the perceived shape of the garden and tricking the eye into focusing away from the garden boundaries. Another method is to introduce drama by creating a more complex journey around the garden. The third way is to draw the eye upwards by introducing vertical elements that open up the garden by giving the appearance of more height.Although it seems counter-intuitive to close off a garden that is already feeling cramped, dividing the garden into separate areas is a very effective way to design a long-narrow garden. Creating separate garden rooms each with its own distinct character makes people want to use the whole garden and explore the next room. The garden will become more useable because each room has its own purpose. Breaking up the space is a great way of stopping the eye from immediately alighting on the rear boundary. This strategy creates a more stimulating journey and encourages exploration of the garden.Walls work well for creating garden rooms, especially if they have a window offering a tantalizing glimpse through to the next room. However, brick and block walls are expensive to build and other methods of dividing the space can be just as effective. Clipped hedges, pergolas, or a simple screen of posts and trellis with an archway through all make good partitions and may be more appropriate for the style and setting of the garden. Railway sleepers set on end like a huge vertical blind create a dramatic garden screen.The transitions between the garden rooms provide another opportunity to add visual and vertical interest. Circular moon gates add striking architectural detail, they also give height and their shape is excellent for focusing attention inside the garden. An arched doorway cut through a clipped hedge creates a dark outline that cries out to be explored.Circles and curves are a great for directing attention where it is desired. Using circular shapes for lawns and seating areas focuses the eye into the centre of the garden. An ‘S’ shaped path will draw attention away from the boundaries and give a more interesting journey through the garden. Placing some taller plants or trees in the deep curves of the ‘S’ creates informal divisions and stops the eye.Another design strategy that tricks the eye and creates a more exciting, indirect route around the garden is to set the plan on the diagonal. The lines of paths, lawns and borders set at 45 degrees to the boundaries draws the eye across the garden and gives the impression of greater width. Using zig-zag paths will provide a meandering walk around the garden.There are many different ways to create height in a garden, it can be done simply by including trees and taller plants. Pergolas are useful for creating instant vertical focus, they can be used as room dividers and give extra space for planting which is especially useful in a small garden. Clipped, formal hedges are also excellent for creating height, as a backdrop for planting and as walls for outdoor rooms.Long narrow sites can make fabulous gardens, but like any tricky space they need a good design that addresses all the practical issues, and includes a bit of wizardry to make them comfortable and inviting spaces to spend time in.

Summary
SPDN is not the largest or oldest way to short the S&P 500, but it’s a solid choice.
This ETF uses a variety of financial instruments to target a return opposite that of the S&P 500 Index.
SPDN’s 0.49% Expense Ratio is nearly half that of the larger, longer-tenured -1x Inverse S&P 500 ETF.
Details aside, the potential continuation of the equity bear market makes single-inverse ETFs an investment segment investor should be familiar with.
We rate SPDN a Strong Buy because we believe the risks of a continued bear market greatly outweigh the possibility of a quick return to a bull market.
Put a gear stick into R position, (Reverse).
Birdlkportfolio

By Rob Isbitts

Summary
The S&P 500 is in a bear market, and we don’t see a quick-fix. Many investors assume the only way to navigate a potentially long-term bear market is to hide in cash, day-trade or “just hang in there” while the bear takes their retirement nest egg.

The Direxion Daily S&P 500® Bear 1X ETF (NYSEARCA:SPDN) is one of a class of single-inverse ETFs that allow investors to profit from down moves in the stock market.

SPDN is an unleveraged, liquid, low-cost way to either try to hedge an equity portfolio, profit from a decline in the S&P 500, or both. We rate it a Strong Buy, given our concern about the intermediate-term outlook for the global equity market.

Strategy
SPDN keeps it simple. If the S&P 500 goes up by X%, it should go down by X%. The opposite is also expected.

Proprietary ETF Grades
Offense/Defense: Defense

Segment: Inverse Equity

Sub-Segment: Inverse S&P 500

Correlation (vs. S&P 500): Very High (inverse)

Expected Volatility (vs. S&P 500): Similar (but opposite)

Holding Analysis
SPDN does not rely on shorting individual stocks in the S&P 500. Instead, the managers typically use a combination of futures, swaps and other derivative instruments to create a portfolio that consistently aims to deliver the opposite of what the S&P 500 does.

Strengths
SPDN is a fairly “no-frills” way to do what many investors probably wished they could do during the first 9 months of 2022 and in past bear markets: find something that goes up when the “market” goes down. After all, bonds are not the answer they used to be, commodities like gold have, shall we say, lost their luster. And moving to cash creates the issue of making two correct timing decisions, when to get in and when to get out. SPDN and its single-inverse ETF brethren offer a liquid tool to use in a variety of ways, depending on what a particular investor wants to achieve.

Weaknesses
The weakness of any inverse ETF is that it does the opposite of what the market does, when the market goes up. So, even in bear markets when the broader market trend is down, sharp bear market rallies (or any rallies for that matter) in the S&P 500 will cause SPDN to drop as much as the market goes up.

Opportunities
While inverse ETFs have a reputation in some circles as nothing more than day-trading vehicles, our own experience with them is, pardon the pun, exactly the opposite! We encourage investors to try to better-understand single inverse ETFs like SPDN. While traders tend to gravitate to leveraged inverse ETFs (which actually are day-trading tools), we believe that in an extended bear market, SPDN and its ilk could be a game-saver for many portfolios.

Threats
SPDN and most other single inverse ETFs are vulnerable to a sustained rise in the price of the index it aims to deliver the inverse of. But that threat of loss in a rising market means that when an investor considers SPDN, they should also have a game plan for how and when they will deploy this unique portfolio weapon.

Proprietary Technical Ratings
Short-Term Rating (next 3 months): Strong Buy

Long-Term Rating (next 12 months): Buy

Conclusions
ETF Quality Opinion
SPDN does what it aims to do, and has done so for over 6 years now. For a while, it was largely-ignored, given the existence of a similar ETF that has been around much longer. But the more tenured SPDN has become, the more attractive it looks as an alternative.

ETF Investment Opinion

SPDN is rated Strong Buy because the S&P 500 continues to look as vulnerable to further decline. And, while the market bottomed in mid-June, rallied, then waffled since that time, our proprietary macro market indicators all point to much greater risk of a major decline from this level than a fast return to bull market glory. Thus, SPDN is at best a way to exploit and attack the bear, and at worst a hedge on an otherwise equity-laden portfolio.

Most of us at one time or another will encounter a short-term financial situation that needs the injection of some cash to resolve. Maybe you need such a small amount of money that it does not make sense borrowing it over a long period, but the lenders will not allow you to borrow money for such a small amount of time. So what are you to do now, if your car is in need of repair and you have not got the money to repair it? This is where payday loans come in.A payday loan is designed to help people overcome short-term problems; as such they are only available for small amounts up to £750. However some lenders will actually restrict the amount that you can borrow the first time that you apply. Once the loan is repaid in its entirety on your next payday, they will then allow you to borrow more the next time you need any money. The lenders fees are simple and straight forward with a simple percentage added to the amount that you borrow. This means that you know exactly what the loan will cost you to repay, even before you apply, because there are no other hidden costs or admin fees.On successful completion of your loan the money is normally paid into your bank account on the same day that you apply, quite often without the need of any faxes or post. However in some cases where the lender is unable to confirm your details automatically they will request that you fax in some simple documentation to prove you are who you say you are.The lenders do what they can to make sure that they will only lend money to people who they think are able to repay them on their next payday. They do this because if you repay the loan on full at the end of the month then a payday loan is a viable option. However if you roll the loan over to another month or more, then you may as well have taken out a more long-term loan in the first place as that would then become a more cost effective alternative.So why do payday loans get so much bad publicity?The main reason that payday loans get as much bad publicity is because most people only look as far as the advertised APR (Annual Percentage Rate). What they should be doing is looking at what the loan is going to cost them in real terms, by looking at the total interest that is charged.So what is APR?The APR is the interest rate and any other charges expressed as an annual interest rate charge. The use of an APR is a useful way of comparing loans that are alike i.e. paid back over a longer period of time. But when you are comparing products which are miles apart such like payday loans with only one repayment or any other loan type that is repaid over numerous monthly repayments.See the details below which should make it easier for you to understand this;With a personal loan for £500 which has an APR of 19.9% taken out for 36 months will cost a total of £653 to repay; this equates to 31% being added to the cost of the loan in interest charges.If you were to take out the exact same loan but this time for 60 months it would cost a total £766 to repay the loan; this equates to an interest charge or 53% of the loan amount.Yet if you were to take out a payday loan for the same amount it would only cost you £625 to repay at an APR of 1737%; this equates to 25% being added in the way of interest.As you can see from the examples detailed above the APR for the two multiple repayment loans are exactly the same, yet the amount repaid and the actual interest charged expressed as a percentage of the amount borrowed is significantly different. They both also cost much more than a payday loan yet the APR indicates a totally different story.So if you need a small amount of cash to overcome a short-term financial issue ignore the APR and look at what the loan will actually cost you. You will then see that a payday loan is in fact a very competitive option indeed.