Still believe in big tech? Short $FNGD

The tech sell-off may not be done yet, but if you're starting to think about how to play it, I've got a setup for you to consider -- short $FNGD.

This is part of a theme I trade which roughly to short leveraged ETFs to capitalize on the underlying decay.

As you can see on the left chart here, a monthly chart, FNGD goes down over time. That's because the stocks it bets against go up over time, and it suffers from rebalancing like all leveraged ETFs.

The instrument is up something like 40% over the past few months. While the move may not be done yet, it's something to keep an eye on and maybe start nibbling at. Long term, the trend is clear :D