Staying hedged! Dog fight between Quad 1 and Quad 4
Still no go-go market.
Tech is not leading; high beta is not leading.
The danger of a market like this, tech can always drag down the market at any point like it did in July / August. And the low volatility trade is long in the tooth. So, I am staying hedged.
Also, I am getting out of this strategy:
https://www.portfolio123.com/app/r2g/summary?id=1757039
[aprox. buy and sell points, pointer from below buys, pointer from above sells].
The QQQs look terrible, relative strength is weak and we already have three distribution days:
Now look at the RSP:
Broad based small cap value momentum is still weak:
Yes, there are small cap strategies, that do well, but they filter out for good earnings, here is my book:
September is not the hottest month of the year and the GEX is still looking very weak (on the white indication: market up, GEX down is where the trouble in the QQQs started…)
On 10.000 meter:
So, mezzo-mezzo, not a big pitch market.
I am net long about 60%.
All the best and best regards.
Andreas
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