12/01 – ETF Trading – QQQQ, QLD

Though stock futures are higher this morning, you never know what the day may bring! Put QQQQ on your watch list today. Consider taking your first long position should the etf close lower today. For the leveraged trade, consider QLD.

QQQQ – PowerShares QQQ™, formerly known as “QQQ” or the “NASDAQ-100 Index Tracking Stock®”, is an exchange-traded fund based on the Nasdaq-100 Index®.

QLD – ProShares Ultra QQQ seeks daily investment results, before fees and expenses, that correspond to twice (200%) the daily performance of the NASDAQ-100 Index®.

We may take up to 3 trading positions over the next couple of days. Our first position is 1/6 of our total trading amount. Our second position is 1/3 of our total trading amount. Our third trading position is 1/2 of our total trading amount. You could also take positions in a 20-30-50 ratio. All trades are at the market close. Please trade responsibly.

Assuming we get into the trade, our exit signals for QQQQ are triggered when the closing price for the etf is higher than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70. Follow these signals for trading QLD.

Learn why the Nasdaq 100 is now a good etf trading opportunity in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.

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