Stock Picks – ProShares Ultra QQQ-QLD

by Sam Collins | December 19, 2009 4:08 am

ProShares Ultra QQQ (QLD[1]) – This exchange-traded fund (ETF) seeks daily investment results, before fees and expenses, that correspond to twice the daily performance of the NASDAQ 100 Index (NDX[2]).

QLD Chart

Chart Legend

I’ve covered QLD many times this year, always noting its powerful bull market. Now, after weeks of meandering between its 50-day moving average[3] and a top at $56.50, it has broken to new annual highs.

The breakout is confirmed by the buy signal on the stochastic and, of course, the Nasdaq index.

The trading target for the breakout is $63, but this is a leveraged ETF, so be sure to place a stop-loss order[4] to protect against any unforeseen reversals.

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Links in this item:

QLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=qld
NDX: http://studio-5.financialcontent.com/investplace/quote?Symbol=ndx
moving average: http://www.optionszone.com/learn-more/chris-rowe/how-moving-averages-work.html
stop-loss order: http://www.optionszone.com/learn-more/teeka-tiwari/use-stop-losses-to-take-a-bigger-position.html
download your FREE copy here: http://www.optionszone.com/order/?sid=XH3254

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