Party like its 1999?

This has been the strongest rally that I've ever experienced. I thought last year was incredibly strong, COVID was also another V recovery. But this one we have the market and Semiconductors making incredible moves and reaching levels that are the most extended in history. Its been pretty cool to witness.

I remember both of those strong rallies though the big pullback rarely came. The general market kept a pretty straight trajectory.... but industry/theme rotation was quick and harsh. Lesson here for me is focus on price and action of the stock/group infront of me. It doesn't matter if the market is extended if a group is just starting to break out. There will always be reasons to not take a trade.... hardest part is tuning most out.

I didn't trade in 1999, I've only studied it. I've always wish I traded the dot-com boom, and it seems like this is the opportunity. I'm focusing on trying to trim, increase my worst-case scenario, and really just let stuff sit as best as I can.

I know we are very extended and need to rest... we don't know if it will be a vicious pull back or just through base building. I'm not blind I see Semis are up an unsustainable amount and I wouldn't buy up here, but this move in my opinion is the start of a MUCH bigger longer-term trend. I remain cautious here with new buys and managing some big winning positions, but firmly believe this is the beginning of a bigger trend.

When semis rest where will rotation go?

We want money to go into high growth groups. We have already started to see some rotation into some new groups that have caught my eye. Software & Space. I also want to note that within Semiconductors there a quite a few sub-themes inside we track that money has been rotating around within.