Nasdaq Bears at 5-Year High Just as Berkshire Sees Apple Bargain
- CFTC data show highest net bearish positions since June 2011
- Powershares QQQ saw biggest withdrawal among all equity ETFs
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Berkshire Hathaway Inc.’s newfound love for Apple Inc. comes as the rest of Wall Street is souring on technology stocks.
Hedge funds and large speculators raised short positions in the Nasdaq 100 Index e-mini futures for a third straight week, pushing net bearish bets to the highest level in five years, according to data from the Commodity Futures Trading Commission. PowerShares QQQ Trust, the biggest exchange-traded fund tracking the tech-heavy gauge, has seen $5.4 billion pulled this year for the biggest withdrawal among all equity ETFs.