Nasdaq Stocks Making Big Contribution to Market’s Recent Gains

facebook nasdaqGary Savage: The Nasdaq Nov/Dec high may act like a magnet to pull the S&P 500 price higher before generating a half cycle top.

nasdaq pulling market higher

Obviously it goes without saying that no one should be selling short right here. I’ve been on record as saying that no one needs to short anything for the next 3-5 years.

We are transitioning into the bubble phase. Yes, there will be corrections along the way. But I guarantee you will not be able to outsmart the bull market. The only people that will make any long term gains on the short side will have massive research departments finding sick companies that are going bankrupt. Retail traders with some charting software are not going to make money selling short.

The PowerShares QQQ Trust, Series 1 ETF (NASDAQ:QQQ) rose $0.52 (+0.46%) to $113.70 in midday trading on Friday. The QQQ, which is the most popular way to go long the Nasdaq index, has gained 1.63% year-to date.

QQQ-2016-07-22

This article brought to you courtesy of Gary Savage at Smart Money Tracker.

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