As I alerted you last week, the tech-heavy Nasdaq-100 Index is set to roll over into a sharp correction. One that should carry the index lower over the next few months.
In fact, the correction has started already …
You can clearly see the forecast downtrend in this updated cycle chart of the Nasdaq-100 futures. It looks like the peak was put in last Wednesday, right on cue with the forecast.
In fact, several recent high-profile earnings disappointments — including those from Advanced Micro Devices (AMD) and eBay (EBAY) — are fueling the tech decline. And don’t look now, but the FAANG stocks, which have led the Nasdaq higher all year, are now beginning to falter as well.
I recommend you take full advantage. That means adding to your short position in a more leveraged way by buying put options on the PowerShares QQQ Trust (QQQ), which tracks the Nasdaq-100.
Now, if you prefer not to trade options, that’s OK too. You should already have a position in the ProShares UltraShort QQQ (QID).
QID is designed to profit as the Nasdaq declines. But for added profit potential, you can take this action now …
| Here’s what to do right away:
Using 2% of the trading capital you have set aside for this service, BUY December 15, 2017, PowerShares QQQ Trust (QQQ) put options, with a strike price of $147, symbol QQQ171215P00147000, at $3.00 or better, to open. This order is good-till-canceled. |
Get this trade placed with your broker right away. And stay tuned for more updates.
Good investing,
Mike
