While the S&P 500 and Dow have rallied to five-year highs, the technology sector has lagged, and is currently sitting about 4% below the fall peak. The PowerShares QQQ Trust (Nasdaq: QQQ), an exchange-traded fund (ETF) that tracks the Nasdaq 100, could provide a diversified way for investors to profit while this out-of-favor sector plays catch up. One reason I like this fund is the exposure it offers to Apple (Nasdaq: AAPL), which accounts for a whopping 15% of the… Read More
While the S&P 500 and Dow have rallied to five-year highs, the technology sector has lagged, and is currently sitting about 4% below the fall peak. The PowerShares QQQ Trust (Nasdaq: QQQ), an exchange-traded fund (ETF) that tracks the Nasdaq 100, could provide a diversified way for investors to profit while this out-of-favor sector plays catch up. One reason I like this fund is the exposure it offers to Apple (Nasdaq: AAPL), which accounts for a whopping 15% of the index weight. AAPL is more than 35% off its September highs, but when the stock stabilizes and snaps back, QQQ will rise with it. QQQ’s recent month-long range between $68 and $66 targets $71 on a breakout, which would be a new 52-week high for the ETF. A full “V” recovery rally projects a much higher target of $78. The $64 level is an important year-long pivot point,… Read More