Wednesday, April 15, 2009

Getting Short Nasdaq via QID

Dow Jones real estate ishares ticker IYR (daily chart above).

I have been watching the Q's, the Nasdaq exchange shares, and they look to be at an interesting juncture. The flag formation looks weak (flat lining) and had a very uninspired break above the upper bound recently. It is now threatening to break back below it.

Given this scenario I am getting long 1 unit of the Ultrashort QQQ, ticker QID, here at $42.45 with a stop at $41.44

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:

Short 1 unit Autozone ticker AZO @ $158.80 stop @ $163.06
Long 1 unit Ultrashort Real Estate ticker SRS @ $35.30 stop @ $32.44
Long 1 unit Ultrashort Financials ticker SKF @ $67.75 stop @ $63.22
Long 1 unit of Ultrashort QQQ ticker QID @ $42.55 stop @ $41.44

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