Nasdaq 100 Nearing 2007 Levels

The PowerShares QQQ Trust, Series 1 (ETF) QQQQ has soared over 25% in the last ten weeks. In that time, stocks like Apple Inc. AAPL, Amazon.com, Inc. AMZN and Baidu.com, Inc. (ADR) BIDU have hit all time highs day after day. As this index continues to move higher, amazingly it is soon approaching the 2007 highs at $55.07. The QQQQ is currently trading at $53.71, -0.03 (-0.06%). While extended and near this double top, it is hard to imagine a major sell off unless another major shoe drops. The Federal Reserve has this market wrapped around its finger and does not want any fall to happen, other than a minor pull back. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com #1 Rated