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New Short Plays

PowerShares QQQ - QQQQ - close: 48.54 change: -0.26 stop: 49.26

Company Description:
This is an Exchange Traded Fund that mimics the trading in the Nasdaq-100 index (NDX).

Why We Like It:
The bounce in the market has failed. The tech-heavy NASDAQ will probably catch up to the declines in the DJIA and S&P 500. We are suggesting bearish positions with a relatively tight stop. Our target is $46.10. The $46.00 level and its 100-dma might be support.

Picked on June 17 at $48.54
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 133 million
 

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