Testing The Short Side With SQQQ
- Posted by ZorTrades
- 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.
blog comments powered by Disqus
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 »
Sign up for ZorTrades FREE updates.
Additional Articles and Updates
- Combining Seasonality and Technicals
- My 2014 Forecast
- How Bearish Is A Low Volume Rally In The SP500
- The Most Important Chart In Corrective Markets
- Most Popular Reads This Week
- How To Protect Your Portfolio Just In Case This Is The Start Of A Bigger Correction
- The Scariest Chart That Everyone Is Talking About
- 14% Corrections Are Part Of The Game
- Passive Investing, Is It Right For You
- Anatomy of A Trader, IQ Myth, Avoid Indexing-Linkfest