GENERAL ADVICE ONLY
Global X Ultra Short Nasdaq 100 Hedge Fund (SNAS) is an exchange traded managed fund that aims to provide investors with geared returns that are negatively related to the returns of the Nasdaq-100 Index by investing primarily in a portfolio of short E-mini Nasdaq-100 Futures contracts listed on the Chicago Mercantile Exchange.
Rationale:
Markets have had a great run higher before the start of this week as they were pricing in a Trump victory. As usual this run has over shot expectations and with the US elections next week, we are starting to see the first signs of some profit taking. Four of the Mag 7 reported this week, and while there was some positives, the markets has sold off. Technically the Nasdaq futures have rolled over and we’ve seen the first move under the 34 day MA, so risk will be easy to manage at this entry. Non farm payrolls also gets released tonight and this has been a good day to enter a short in two of the last three months, so look to get set today.
Trade Strategy:
Buy SNAS
Long Entry: Buy up to $1.40
Target $1.60
Stop $1.25
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.