by Sam Collins | December 24, 2008 1:39 am
Editor’s Note: Sam will be enjoying the holidays with family and friends this week and next. Our next Trade of the Day will be posted on Monday, Jan. 5.
We wish you a joyous holiday season.
ProShares UltraShort QQQ (QID) — This Exchange-Traded Fund (ETF) seeks daily investment results, before fees and expenses, which correspond to twice the inverse of the daily performance of the NASDAQ-100 Index (QQQQ).
After a period of consolidation following a retreat from its high of $88 in November, QID has stabilized at the $55 support line.
With the market under selling pressure late in the year and a test its lows of November a real possibility, this ETF provides an excellent opportunity for the trader to benefit from a retreat by the market and the Nasdaq-100 index.
In addition to getting instant access to his Trade of the Day, you’ll also receive, in the same e-mail, his Daily Market Outlook so you can start your day off right by positioning yourself for profits!
Click here today to sign up today for Sam’s FREE Daily Trader’s Alert![2]
Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net[3]. You can also check out an archive of some of his most recent market outlooks by clicking here[4].
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