I said around the middle of last month that the crowded trade was unwinding. The S&P 500 actually hasn’t fallen much lately, so that’s not too bad, but semiconductors and memory stocks have pretty much gone into free fall, and AI hardware stocks are impossible to look at now.

I gradually and significantly cut my positions in early October. Looking back, I was spot-on both about when to get out and where market capital was flowing 🫡 https://twitter.com/AlphaguyTrading/status/2109841384278737053