ProShares Ultra QQQ (
This exchange-traded fund (
) seeks daily investment results, before fees and expenses, that
correspond to twice the daily performance of the Nasdaq 100 Index (
We've covered QLD many times here in the past year, always
noting that it is in a powerful bull market. But on Jan. 21, QLD
rolled down, penetrating both its 20- and 50-day
, before executing a key reversal day on Feb. 5.
Since then, it has been under consistent accumulation, and on
Tuesday broke through a
to a new 18-month high.
may not be as high as we would like in order to positively confirm
the breakout, but momentum is high, and that alone could catapult
QLD to a target of $70.
This "ultra fund" carries greater risk than an ordinary ETF, so
investors should use stop-loss orders.
Also, the SEC has determined that ultra funds are not good
long-term investments and that they are most appropriate for
short-term trades. The
for most leveraged ETFs is 100%, but check with your broker before
entering an order.
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