As my readers know, I love to use the bottom fishing screen inside The PPT to find inflection points. Over the years, one thing I’ve noted is when this particular screen gets littered with bear ETFs it’s time to take caution.
Well, let’s take a look at today’s results:
The PPT is still saying to short the financials, and now looks to be bearish on tech. With all the uncertainty this month, I like the idea of pair trades using the bear ETFs. For instance if you like $GOOG here, maybe you buy it and pair it up with $QID. If we do get the sell off, you sell the QID and add more $GOOG.
Just a thought.
One thing is for certain, tread lightly here.
Note: PPT members can always find the bottom fishing screen HERE.
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