Those whom are benchmarking too the NDX and looking to leverage trades on the long side at these levels may consider ProShares UltraPro QQQ (NasdaqGM: TQQQ) which delivers 3 times the daily returns of the Nasdaq 100 Index, as well as ProShares Ultra QQQ (NYSEArca: QLD) which is the 2 times daily long product.
Similarly, Direxion offers Direxion Daily Technology Bull 3X (NYSEArca: TYH) which tracks the Russell 1000 Technology Index. For those portfolio managers whom want to attempt to mitigate any perceived “overweight” to AAPL in the market cap weighted NDX, but still want exposure to the broad Technology sector, First Trust Nasdaq 100 Equal Weighted (NasdaqGM: QQEW) as well as Direxion Nasdaq 100 Equal Weighted (NYSEArca: QQQE) will likely be appealing.
PowerShares QQQ
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Full disclosure: Tom Lydon’s clients own AAPL.