I took profits on a couple of items in order to seed into some non-starters that I feel will do well for as long as the stock mania is intact. I am not going to blindly hold a mania. I am going to take its profits and buy elsewhere as seems reasonable.
For instance, thank you (again) AMAT. The Semi Equipment book-to-bill data is due out later and in honor of that I sell one of the premier equipment guys.
I sold this solid company more because the Semi index is looking too frothy for me now. Is every freaking momo who was too scared (or too politically constrained) to buy in May-June now slamming on board? Good luck to ’em. I try to buy what the substance abusers hate.
I also took the profit on the currency hedged Japan fund. It’s another item, as noted in NFTRH, that was bought when few wanted it. 8% on in essence, an index ETF? I’m taking it and not looking back. This was a play on the bearish Yen (as noted here at the public site many weeks ago) more than anything else. Thank you Johnny Yen for sending the Japanese stock market in the other direction. The target is above 50, but I am content to let the momos do their thing.
I’ll play the stock mania for a while, sure. But I am not going run with dope fiends. We’ll keep churning relatively sound ideas in NFTRH but also not lose sight of what this is developing into; a largely politically motivated (IMO, as a sons of Druckenmiller who hated the market pre-Trump, dive in) suck-in that will finally bring an extreme sentiment reading by certain holdouts.
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