Looking at the chart, we see that the ETF recently burst through its downtrend line on very good volume, and has pulled back on weak volume--a very bullish sign. The RSI is also particularly strong.
Thursday, December 28, 2006
Trade and Chart: QID
When I'm in the mood to short the Nasdaq, instead of shorting the Q's, I like to go long QID. QID is an ETF that double shorts the index. It's a great way to increase your exposure to volatility when playing a boring index. Today I bought 500 shares at $53.90.
Looking at the chart, we see that the ETF recently burst through its downtrend line on very good volume, and has pulled back on weak volume--a very bullish sign. The RSI is also particularly strong.
Looking at the chart, we see that the ETF recently burst through its downtrend line on very good volume, and has pulled back on weak volume--a very bullish sign. The RSI is also particularly strong.
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