Friday, November 16, 2007

PowerShares Exchange-Traded Fund Trust (QQQQ) 11-16-07

Tech (the whole sector) got hammered yesterday so I figured on a little bounce from the QQQQ which is an ETF. The QQQQ follows (reflects) the Nasdaq-100, which is alot of Tech stocks.

I bought some Nov 50 call options (which expire today at 4:00) after 10:30 which happen to be it bottom for the day. I sold them at around 11:30 for a quick 79% gain.

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