The recent rotation out of oil stocks has lead to institutional money flowing into the Nasdaq Index. The earnings have been good as well from heavy weights such as Oracle (ORCL), Cisco (CSCO) and Apple (AAPL).
The Nasdaq 100 Trust Shares (QQQQ) has formed an inverse head & shoulders pattern & with recent strength is past its 200-day MA and making a run for the 42-43 level.
With the third quarter earning season here, investors can place their bets, whether long or short, on the tech stocks by taking advantage of the exchange-traded fund QQQQ.
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Yaser Anwar is a guest author at ETFtrends & the editor of Investment Ideas by Yaser Anwar blog. The author of this article is not a registered financial advisor & does not give investment advice. This article does not comprise any solicitation to buy or sell securities, ETFs or other investment vehicles.