NASDAQ Back Near Session Lows

After rebounding a large portion of the early morning gains, the NASDAQ has continued to see weakness, and is down the most of the three indexes, likely indicating that there is further pain ahead. At last check, the NASDAQ was off 27 points to 2,733, the S&P 500 was off 8 points and the Dow Jones was off 71 points. With the NASDAQ leading the weakness, traders may want to take a look at purchasing ProShares UltraShort QQQ ETF

, which is up more than 2% on the day. Traders could also go short the ProShares Nasdaq 100 ETF

or some of the more high beta tech names, such as Apple

, Google

or Baidu

.