Good Wednesday morning. We’re taking action in the VRA Portfolio this morning by averaging into NAIL (3 x homebuilder ETF). Last $60.90.

We first added NAIL on 9/22 at $72.40 (with a current loss of 16%) and averaging into the position here will bring our cost basis down to the $66 range. We wanted to make this move earlier this week (NAIL was up 13% yesterday) but we also wanted your focus to be on adding SOXL (3 x Semi ETF). Buying NAIL here is another classic VRA System buy signal. First, we love the fundamental story here, just as everyone on Wall Street hates the sector. We’ve learned this week that total pending home sales just hit a multiyear high, as mortgage rates drift lower towards 6%. We continue to forecast sharply lower rates into next year with 30 year mortgages breaking 5% by the end of 2026. It’s looking like friend of the President, Kevin Hassett, will be the new Fed chair. Hassett is a big believer in normalizing rates, which will equate to the Fed cutting rates a...