I reduced my overall equity exposure from approximately 70% coming into this week down to 40% so far today. As you know, my general guideline for cutting losses is to wait for a Friday decisive close below the 10-week moving average. Of course, there are exceptions to this rule when news comes out during the week, and there will also be times when you have to use your discretion. In sold my position in TENB (on the gap down based on their poor guidance). I also sold my position in PANW (on the gap below the 50-day), sold ANET, and reduced my position in SMH. I just wanted to update you in my efforts to be transparent. This is why I have been encouraging lighter than normal positions and using cash as a position to help deal with the volatility. As always, your decisions should be made based on your own risk tolerance and overall investment objectives. I will discuss this further in Wednesday’s MidWeek Video. Thank you and good luck.
