Recent softness in technology leaders Apple (AAPL) and Netflix (NFLX) is a big reason why a Nasdaq-100 exchange traded fund is trailing the overall market as measured by the S&P 500.
One way to hedge further weakness from these ?technology generals? is to purchase an ETF that shorts the Nasdaq-100, an investment newsletter said Monday. In other words, this bearish ETF is designed to profit when the tech-heavy index declines on any given day.
The past two sessions have seen ?relative weakness? from the pair with Apple ?firmly cracking? its 200-day exponential moving average and trading at its lowest level since November of last year, says Tarquin Coe, technical analyst at Investors Intelligence.
?Ongoing underperformance from prior leaders is not indicative of a healthy market,? he wrote in a note to subscribers Monday.
He recommended a position in ProShares Short QQQ (PSQ). The ETF seeks a return of 100% of
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