Closing out QQQQ

Nasdaq-100 Tracking Stock (Nasdaq: QQQQ) has had a good run since I first recommended buying QQQQ back in August.

The Nasdaq-100 Index is starting to encounter some resistance after this prolonged uptrend. Although QQQQ may continue to climb, and I am now closing my recommendation on QQQQ. This doesn't necessarily mean that I think QQQQ is going to drop. However, I'm pretty confident that we won't be seeing the same kind of increase in QQQQ that we have in the past three months. At this time, my opinion is that the safe thing to do is to take certain profits now, and perhaps look for other investment opportunities.

My caution here is that I will admit to having the tendency to sell a little bit early. From the time of my recommendation through Thursday's close, QQQQ increased in price from 38.79 to 42.04. This represents a respectable gain of over 8%.

Visit PFStock for more information on personal finance and stock investing.