I’ve closed all my short positions in U.S. stocks and BTC. Today’s bearish news about NVDA, along with the uncertainty around tomorrow’s CPI report and CRWV, hasn’t stopped QQQ and many other tech stocks from continuing lower. Crude oil has fallen to 87, and the 10-year Treasury is also down. Whatever the reason, I’m respecting the price action and have closed all my shorts. I’ve reversed course and opened long positions in QQQ, SOXL, SPCX, TSLA, GOOGL, META, and AMD. We should get a short-term bounce here, though it’s hard to say whether this is the bottom. Given this big bearish candle on SPY, there may still be room to fall over a longer time frame. PPI is due this Friday, and there’s another rate hike next month, so the market still has a month to test the lows a second or even third time. But at least today and tomorrow, we’ll probably get a bounce here. I’ll try to catch a move for now; if it loses steam on the way up, I can always reverse and go short again. As for BTC, I haven’t opened a long position here. It has clearly started weakening over the past couple of days. I’d rather wait and, if it really looks weak after moving higher, short it again.