ProShares UltraPro Short QQQ (NasdaqGM: SQQQ)

Bullish Equivalent: ProShares UltraPro QQQ (NasdaqGM: TQQQ)

Comment: The Nasdaq Composite plunged 110 points, or 2.6%, Friday. As has been widely documented, momentum stocks, including biotech and social media, are under siege. Negative price action in those names and others sent the PowerShares QQQ (NasdaqGM: QQQ), the NASDAQ-100 tracking ETF, below its 50-day moving average. SQQQ, which gained 8.2% Friday, seeks investment results which correspond to three times (300%) the inverse of the daily performance of the NASDAQ-100 Index. [Social Slide: Social Media ETF Flirts With Bear Market]

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