Testing The Short Side With SQQQ
- Posted by Frank Zorrilla
- on November 26th, 2012
I believe that we have a short term (1-2 days) shorting opportunity in the $QQQ. The QQQ is now up 6 days in a row testing the presidential election gap down at the same time that AAPL is facing some technical resistance at the $590 level. If right this might be only a 2% pullback, for the aggressive traders the 3x ETF’S make it worth while. It’s un-American to short $AAPL but it is okay if you do it via the QQQ/SQQQ.
Here is another look from @GTOTOY who has been right on AAPL
If this idea makes sense to you, then play at your own risk, and know your risk. Consult your broker/advisor/etc or us at Zor Capital.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Frank Zorrilla is the founder and chief investment officer of Zor Capital LLC.He began his Wall Street career 10 days after his 20th birthday when he became a Series 7 licensed stock broker. More »
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