Based on yesterday’s weak internals at the all-time high, I sold QLD and reduced my position in NVDA today. I don’t want to hold leveraged positions (2x Nasdaq 100 - QLD) if there are signs of a correction. Nvidia is also a high Beta position. (High Beta means it is more volatile than the S&P 500.)
To be clear, there are signs of a correction, but I am not calling for a correction yet. Indicators are Neutral to slightly bearish as of mid-day, Wednesday. I am choosing caution. If conditions improve, I’ll re-establish positions.
I am now probably 50-55% invested in stocks.
