PORTFOLIO CHANGES
During the last hour yesterday, I doubled the portfolio position in QQQ. The Nasdaq 100 now represents 60% of the portfolio. I also doubled the position in FAS. Making it 20% of the portfolio. Since FAS is a triple leveraged ETF it brings total portfolio exposure to 120% long.
The portfolio consists of QQQ and FAS. Clean, simple and concentrated.
The last hour surge was fund managers realizing that this rally is for real and wanting to participate. There is a lot more underallocation out there that needs to be resolved if guys with a lot of hair gel want to keep their jobs. We have quite a bit of upside remaining through November.
