Lower Lows and Summer Rallys (MZZ, QID)

The recent swings in the market are bringing out the pundits.

Some market forecasters are advising to sell into any near term rally while others are recommending to hold off for new lows before jumping back into the market in time for a strong summer rally.

In the article ETF Advisers: Sell into Market’s Rally, Investor’s Business Daily‘s Trang Ho quotes Penn Financial Group‘s Matthew McCall as predicting a snapback rally of about 10% from current oversold levels.

Ho also cites Trending123.com‘s John Lansing who is projecting that the S&P 500 will hit 640 before rallying this summer. For the near term, Lansing is recommending small positions in inverse ETFs ProShares UltraShort MidCap 400 (MZZ) and ProShares UltraShort QQQ (QID).

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