I have been taking profits in good companies and selling some weak ones in the past two weeks to a month, and am repeating some of those trades as a reminder, 5% sales of Nvidia, 50% sales of Tesla, 100% Bumble, another 5% of SuperMicro in addition to the earlier sales.
I’ve barely deployed that cash because I haven’t found compelling bargains. I’ve done some dip buying in Novo and Dell, but I still have a long way to go before I complete them – waiting for more attractive prices.
There is fatigue, and exhaustion after the fantastic earnings season and giddy highs from the AI Fear of Missing Out, (FOMO) trades. Apple, Google, and Tesla, three bellwethers’ weaknesses are also weighing in the market. There is sector rotation out of tech, which is a good thing.
It’s time to be even more selective and patient.