It must be my English challenged writing, when we were at 1975 (the last peak) I was at 42% cash, the breach of 1965 justified removing the QQQ hedge, which I did, now at 1900 I am at 12% cash, what else can I say? At the prior peak, at 1925, when I became bearish for at least a 100 Naz points (and shorted QQQ), I was wrong as to the extent of the decline (had expected 1820 at least, we turned on a dime at 1850). You can of course call that a bad call, it surely was, at least partially.
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