Stocks slipped this morning as market watchers awaited crucial inflation data that will influence the Fed’s next policy decision during its September meeting. The July Consumer Price Index (CPI) reading is due on Wednesday. After blockbuster jobs data boosted expectations for Fed aggressiveness last week, the stakes are high.
Tech shares took a hit in early trading after a warning from chipmaker Nvidia reinforced concerns of a slowing economy, leaving many on Wall Street questioning the recent rally.
“I think a retest is likely, and investors need to be careful about buying in here,” said Morgan Stanley Wealth Management’s Jim Lacamp. “You should use a rally like this to sell some stuff that you’re trying to get rid of – you know you don’t want the cheese anymore. You want out of the trap.”
Bearish investors looking to add an extra layer of benefits to backslides in technology stocks may want to go near-term short on the Nasdaq- 100 Index. Today we’ll highlight the method many of the pros on Wall Street use for doing just that. However, you don’t need to be a professional to employ this tactic.
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The ProShares Short QQQ (PSQ) fund offers inverse exposure to an index comprised of the 100 largest nonfinancial securities on the NASDAQ, making it a potentially attractive option for investors looking to bet against this sector of the U.S. economy.
It’s important to note that PSQ is designed to deliver inverse results over a single trading session, with exposure resetting monthly. Investors considering this ETF should understand how that nuance impacts the risk/return profile and realize the potential for “return erosion” in volatile markets. PSQ should definitely not be found in a long-term, buy-and-hold portfolio but may be a valuable tool for more active investors looking to either hedge existing exposure or bet on a decline in the top nonfinancial NASDAQ securities.
ProShares Short QQQ (PSQ) Data Summary
- Net Assets 1.38B
- Expense Ratio 0.95%
- YTD Daily Total Return 15.15%
Should you invest in PSQ right now?
Before you consider buying PSQ, you'll want to see this.
Investing legend, Keith Kohl just revealed his #1 stock for 2022...
And it's not PSQ.
Jeff Bezos, Peter Thiel, and the Rockefellers are betting a colossal nine figures on this tiny company that trades publicly for $5.
Keith say’s he thinks investors will be able to turn a small $50 stake into $150,000.
Find that to be extraordinary?
But you have to act now, because a catalyst coming in a few weeks is set to take this company mainstream... And by then, it could be too late.
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