Very Early Stage
Today’s rally out of the bottom is a good first step. We still are a long way from where the Big Shorts start covering. That will fuel the first big step.
In the meantime we are seeing the 30% of our total portfolio in the 3X ETF’s SPXL and TQQQ providing most of the upward print. The 70 % of our portfolio in the EV, TECH, and BIO space are only modestly up. The CNBC talking heads are calling the Health space as being a counter-cyclical area, rather than an area for big potential growth.