I am typing this before the conference call, but thus far, the NVDA report is goosing the market somewhat higher. Here is NVDA itself:
Amazing as that looks, it’s crucial to keep in mind the longer-term context. They produced blowaway numbers, but at least as of now, it’s simply Another Lower High.
I offer the same admonishment for the /NQ which, yes, is up hundreds of point, and yet…….
In any case, my decision to dial down exposure from 200% to 100% seems prudent, and I have virtually no semiconductor exposure (literally just a small INTC short right now).
