PSQ and QID ETFs To Short NASDAQ QQQ

I bought a chunk of QID, the ProShares Ultra Short of the NASDAQ 100 last month, and I'm down over 17%, even with being a percent up today. The QID ETF is designed to double the inverse of QQQ, so if the NASDAQ 100 go up 1%, the QID ETF goes down 2%. It's a bit frustrating for a couple reasons. One, I bet the wrong way and I'm losing money hand-over-fist. Two, the NASDAQ 100 has recently outperformed the NASDAQ as a whole, as companies like Microsoft have blown away earnings. Typically, my biggest position this year was in Microsoft, and I sold right before it began its 20% rise. I thought I'd waited long enough for the Vista benefit, but I was wrong, wrong, wrong.

If I had my wits about me, I would have bought the PSQ ETF, which is designed to simply invert the QQQ, so if the NASDAQ 100 go up 1%, the PSQ go down 1%. You might notice that in both examples, I pick the NASDAQ to go up, with myself on the wrong side of the bet. That's called being realistic. I've used these ProShares short ETFs to go against the market several times now, and I've lost every time.

I suppose I could make the argument that tech is the only thing the US economy really has going for it at the moment. Our other exports, cheap to EU, middle eastern and Asian customers because the fall of the dollar, are third world in nature, like food staples and commodities. I'm not enthusiastic about America raising our exports by becoming the economic equivalent of a banana republic.

But despite the fact that our tech exports are real, I'm utterly convinced that the stock evaluations are way overblown. The QQQ includes all of those companies with whacko earnings expectation that will eventually fall to earth, the problem is one of timing, So, if you want to short the NASDAQ, the PSQ and QID ETF's are an easy way to do it, with the QID shares moving twice as much as the PSQ shares in the counter QQQ direction. Just don't blame me if you lose money, losing money is what I'm good at.