Added HQD.TO Position at Nasdaq 2500

Nasdaq 1 year chart
I recently added more HQD.TO (Horizon Nasdaq Bear ETF on TSX) position, the reason is because I foresee limited upside and more downside risk within the next 1.5 years. The Nasdaq from here might pop a little higher towards 2700 but I do not think that would happen this year.

This bearish stance on the economy is a trade that I have entered with a time-horizon of 2 years, so it is just a waiting game for the Nasdaq to hit either 2100 which is the next support level, or possibly even 1700 which is the 2009 lows. In any case when the the HQD.TO ETF is in the money (ITM), I will of course take some profit off the table.

We will see how the economy plays out in the next 2 years.

Please trade on your own merit, and do your due deligence and read my “Disclaimer”

This entry was posted on Monday, October 10th, 2011 at 12:27 pm and is filed under ETF, Economy, Stock Trading, Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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