High Price, High Risk

• Ding, Ding, Ding

• EVERYONE Is Still Long Semis

• Mania-Over-Macro Meets Macro-Over-Mania

• MONEY GOES HOME, Revisited

• Rising Yields are Kryptonite to AI Bulls

Ding, Ding, Ding

After a 30% advance in Q2 for QQQ - and 100% for SOXX - we had a deluge of warnings hit as we entered July - separate from mine June 2nd where, lucky or good, I caught the exact highs. Also updated June 29th where I warned of AI Exhaustion Into “Summer Storm”.

All before the big houses got bearish.

And they say market doesn’t ring the bell at the top?