Institutions just hit the eject button on tech.
Hedge funds and asset managers dumped $21.6 billion in Nasdaq futures in one week—the biggest weekly purge on record per Goldman. Short selling made up 72% of that move.
Hedge funds alone sold $11.9 billion. Asset managers another $7.4 billion.
Net positioning flipped negative for the first time since May, now sitting at -$5 billion. Back in October, it was +$54 billion.
They're not panicking. They're selling into strength—taking profits while the market still bids. That's the part worth watching. When smart money exits during rallies, it's usually not because they're bullish on what comes next.
Hedge funds and asset managers dumped $21.6 billion in Nasdaq futures in one week—the biggest weekly purge on record per Goldman. Short selling made up 72% of that move.
Hedge funds alone sold $11.9 billion. Asset managers another $7.4 billion.
Net positioning flipped negative for the first time since May, now sitting at -$5 billion. Back in October, it was +$54 billion.
They're not panicking. They're selling into strength—taking profits while the market still bids. That's the part worth watching. When smart money exits during rallies, it's usually not because they're bullish on what comes next.