Remember that time when tech stocks took it on the chin following Donald Trump’s election? Well, it’s all history, baby. That little knee-jerk reaction has now been dutifully corrected.
The stock rally greeting investors in 2017 was a boon for tech stocks. With Friday’s high-volume pop the Nasdaq-100 and its accompanying ETF — the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) — surged to yet another all-time high.
And you know that that means.
Every QQQ shareholder on the planet is now sitting on a winning position. And anyone unfortunate enough to still be betting against the Nasdaq-100 through shorting the fund is once again in a world of hurt. More hurt, in fact, than they’ve previously experienced. With QQQ bulls incentivized to sit tight and bears squealing in pain, the situation is ripe for more upside.
Fortunately, the past few weeks of choppy chop have created bases in tech stocks across the land. And these bases are now being broken to the upside, which offers some attractive low-risk bullish setups.
After scouring the sector, these are three of the best opportunities among tech stocks.