Well, looking at the charts today, it would seem that the S&P500 is showing some signs of a little weakness. After a huge run up for the DJIA, Nasdaq and S&P500, I believe things are going to stop going up and a reversal is in order. Don’t know exactly when it will hit maybe a week or two or maybe even a month, but I think we are getting a little long in tooth here.
In light of this, I recently purchased two “bearish” Canadian ETFs that trade on the Toronto Stock Exchange (TSX) to try and profit from the coming reversal of the market. As per my last few post, I am trying to trade mostly in Canadian currency as to not get hit by the recent and on going efforts of the U.S Fed to de-value the American dollar.
The two Canadian ETFs I bought are from the investment company called Horizon, the have the “BetaPro” line of ETFs that trade on the Toronto Stock Exchange (TSX), so again the actual symbols of the ETFs are HQD and HSD. The HQD is a bearish Nasdaq ETF and the HSD is the bearish S&P500. I guess I will see in the next week or two whether the Nasdaq and the S&P500 will head lower, if it does head south I will be “in the money”.
by Das Brain
Please read my disclaimer.
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