Simple stock question?

Question

hi, i am new in stock, just wondering if i can buy something like .... index up or down of the nasdaq, if so, how to buy, can i do it over my online broker account? please provide some website for more info (if possible). thanks.

Answer 1

The best thing is to look at exchange traded funds, or ETFs.

If you are looking for the nasdaq, there are a few ETFs to consider.

Symbols:

QQQQ, Nasdaq 100 track stock.

If you want to go short, you can simply sell the QQQQ short, anticipating the nasdaq to go down.

Other options, include QID, which is twice the inverse of the nasdaq move down. In other words, if the nasdaq goes down 1%, this would GAIN 2%. Also, QLD, which is twice the return of the nasdaq. So, if the nasdaq goes up by 1%, this would GAIN 2%.

Answer 2

You should first deposit cash into an account.  I would go with a discount broker near my residence.  They will set up your account and you will be set to go.  Ask questions while setting up the account.  This is a very rough market and I am not that sure about going short due the volatile nature of this market.

Answer 3

I use Firstrade, but I've never traded ETFs.  However, according to their website, they do allow customers to trade them. You can read about ETF Investing with Firstrade here: http://www.firstrade.com/public/en_us/kn...

Answer 4

One can buy or short the Index Funds with your online broker. Head over to Yahoo Finance.