Good Thursday morning. One week ago today we began advising that we had reached heavily overbought levels (short term) on the VRA System and that we would hold off on adding to our ETF positions. Two days later DeepSeek (which now looks very scammy and likely a bear trap for AI-related stocks) a 3% loss in nasdaq and a 10% loss in the semis followed. From euphoric, all-time highs to panic and blood in the streets, just like that.

As much as we were forced to respect our discipline with leveraged ETF’s…hence the stop loss in SOXL...what mattered most was the fact that our primary macro theme has not changed. We are in the bull market of a lifetime, led by an innovation revolution and Trump 2.0, that will continue to power the economy and markets higher into 2030 (at minimum).

Because it was primarily the semis and tech that were hit the hardest on Monday, outside of the semis, the rest of the market has held up just fine. We’ve also worked off those overbought levels, with the exc...