QID - amex

the ProShares Ultra Short QQQ. $36 today. recent high of $53 in August. just bot 10k in my IRA. think there is a good chance the QQQQ, which has outperformed the SPY, will tank with it

OOPS!!! should be 1k buy. like it but not $360,000 worth

up 2+ thusday with the nasdaq down 1.44. the nasdaq has held up better than the s&p recently but I think it's just set up to catch up on the down side.

 

buy this puppy on any "dead cat' rallies.

ya BUT I should have taken 3k, KOAJ. that would have been about 15% of my IRA which is mostly in short term $$$.

LeRinkRat,

 

When you buy QID, the ticker symbol goes up when the QQQ goes down, right?  So you are buying this "stock" in hopes it goes up, but for it to go up the QQQ really has to go down, right?

 

Just wasn't sure if you were buying this long or shorting it.

 

Thanks

just saw this on proshares site - i think it answers my question

 

Short ProShares are the only ETFs designed to go up when their indexes that underlie the benchmarks go down (and vice versa). Use them to seek profit in a market downturn or hedge an investment.

think ya got it figured out, LTP.

 

QID is used to hedge NASDAQ (or just play "the dark side") while the SDS is contra to the S&P 500 (SDS? 1960's "Student for a Democratic Society"? does that make you a Commie if you buy it?) and the DXD is the Dow 30 contra.

threw in for 2k more @ 37.50 during the last hour rally but missed. will see what happens tomarrow.

 

 

thanks for the info - intersting stuff to follow

QID's closed @ 43 + 2.16 monday. I KNEW I should have bid up on that late dip (false nasdaq rally) below 40 friday.

bot another 1k wed @ 39.

 

now you can play "roll over stock market" to the music of the old Chuck Berry song

back over 40 @ 40.50 + 1.56 monday 12-17 on more "credit worries" like THAT ever really went away.

closed @ 36.82 friday 12-21

 

this pre Christmas rally has the QID back close to it's recent 12-11 low of 36.26. probably NOT a buy here yet considering that it's usually thin trading volume from Christmas thru New Years BUT I don't think this market, with all the fundamental problems it still has with subprime and a potential recession coming, has much more upside going into 2008.

 

IF I see a 36, I will start to nibble.