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2 Possible Short Plays To Keep On Watch


ETF Trade Watch

Well Thursday’s trading session brought with it a lot of red. Every sector finished the day down from where we were earlier in the week. This substantial decline came after the SPDR S&P 500 ETF Trust (SPY) neared a high of 420 before losing momentum. SPY is now currently down over 2% for the week.

ProShares UltraPro Short QQQ (SQQQ)

Since yesterday has us thinking about the downside, here is another way you can take advantage of anymore selling. Inverse ETFs will allow you to take a long, short position. Meaning you would be able to go long based on the idea the market will continue to decline. As you can see by the video, the SQQQ was up by just over 2% on the day.

If the market continues to show red, then keep this ETF in mind.

SPDR Gold Shares (GLD)

Another area to look for a possible downside play is gold. After tying a few times to break and hold that 1900 mark but failing, the price of the precious metal has started to look weaker and weaker. A possible way to take advantage of any increasing weakness would be to short the SPDR Gold Shares (GLD), which tracks the price of gold. This means any decline in the actual price of gold means a decline in this ETF’s price is likely to follow.

Check out the full breakdown here…

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Good Luck!

Christian Tharp, CMT

Christian Tharp

I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group. My Chartered Market Technician (CMT) designation substantiates me as an expert in areas such as the technical analysis of stock trends, market indicators, cycles, price patterns, Elliot Wave principles, Candlestick charting, analyzing financial trends and behaviors, portfolio strategies, and forecasting future price movements. With my straightforward approach to simple, systematic trading, students learn how to strategically assess buy signals and market entry timing, establishment and management of stop losses, and how to employ a simple and disciplined trading approach that creates profits.

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