Profile: The investment seeks daily investment results, before fees and expenses, which correspond to twice the daily performance of the NASDAQ 100 Index. The fund normally invests 80% of assets in financial instruments with economic characteristics that should be twice the return of the index. It may employ leveraged investment techniques in seeking its investment objective. The fund is nondiversified.
QLD replicates twice the daily performance of the NDX (it's reverse ETF is QID).
Following the Market Comment (http://www.3stocksonfire.org/trading/index.php?topic=10059.msg118197#msg118197) published today, we're opening a position in QLD today.
Trading Plan:
Buy QLD today (10% exposure), we'll be setting a stop near yesterday's lows.
Update:
Neutral developments for now, I'm setting a suggested stop level.
Trading Plan:
Hold QLD with suggested stop near $28