I am back in the saddle: Since returning, I am experimenting with the new ProShares ETFs; I own the Nasdaq Q short (PSQ) and the Dow short (DOG).
I am not interested in shorting the leveraged ETFs -- it seems too inefficient.
Having just gotten back, I am still pretty cash heavy, and looking to ease into some positions slowly. I am looking to put some money to work soon.
NOTE: I am not yet endorsing these ETFs. I wanted to trade with them (rather then outright short the Qs/DIA/SPY) to see if there is any advantage to working with them. Yeah, you can watch them, but its not the same as owning them -- even if its a small position. Focuses the mind and all that.
They are not very liquid yet, and trade with a big spread.
Other than you can get short in an IRA/401k accounts -- I'm not sure if there is any advantage over shorting QQQ/DIA/SPY.
UPDATE July 10, 2006 3:30pm:
NO! This is not a trading call -- this is merely me playing with these ETFs to see if they have any value.
You can see why the attorneys hate this stuff here -- its so subject to misinterpretation.
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I subscribe to Ritholtz Research and the only signals I have from it are that you went long and then closed out the QQQQs.
Is this an official signal?
Personally I'm still in cash with leap puts on the indexes I purchased back in May.
Posted by: khare | Jul 10, 2006 2:49:44 PM
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