The cliché is Live by the Sword, Die by the Sword. Being overweight tech is great on the way up, turbulent on the way down. Grade C+. I did okay, but feel like I mis-managed my NVDA position. One lucky thing I did was close longs in Adobe before it fell on earnings.
Here are some ETFs, 2024 calendar performance:
SPY SP500 7.3%
QQQ Nasdaq 100 6.0%
SLV silver 5.7%
GLD gold 4.5%
EEM emerging mkt 1.4%
IWM Russell 2000 0.8%
My trading account +7.7, so I am staying ahead. Still doesn’t feel good during those down days towards the end of the option cycle. The most likely scenario for QQQ and some other leading stocks is choppy horizontal trade. I reduced long positions in AAPL and TSLA, got out of ADBE entirely because they are two of my worst holdings for 2024. I initiated tiny long positions in Ferrari RACE, and Toyota TM. These two auto stocks are doing well, while EV oriented auto stocks have been falling.
I remain overall bullish, overall tech heavy, lots of cash in reserve, looking to add longs on signficant dips.
