“Tech stocks have been lagging recently with steep sell-offs in key names, including Apple, Facebook and Netflix (NFLX). Companies that just a few months ago were setting records have since lost hundreds of billions of dollars in market value amid concerns that the best days of growth are past,” according to Bloomberg.
Bearish traders can prepare for a possible decline in the Nasdaq-100 with the ProShares UltraShort QQQ (NYSEARCA: QID). QID attempts to provide double the daily inverse returns of the Nasdaq-100 Index.
For more news and strategy on the Technology market, visit our Technology category.
Tom Lydon’s clients own shares of QQQ, Apple, Facebook and Microsoft.