[Closing Position In ProShares UltraShort QQQ ETF (QID)]
Dear Member:
The bearish QID fell below support yesterday and is down again today. I am closing the position at the market. Unfortunately, this will result in my first realized Trend Trader loss since February a year ago. The final result will be posted in the Trade Table. My position, at least was small. I should note that QID does have options and covered calls can be sold against the position which generally reduces risk though the covered call strategy is one of a bullish nature.
DISCLOSURE: At the time of publication, I own shares of QID.
Sincerely,
Bill Kraft
|
