Jack - lots to think about. You've highlighted multiple times that Tech is not homogeneous and certain things (like Meta, Amazon and Google) aren't in "tech". With that said, there is a real divergence. Future cashflows of companies like CRM and ADBE seem to be more uncertain while others like PLTR CRWD NET NOW seem to be more certain - at least that's one explanation of the divergence. Also, many semis on a forward P/E basis, like MU or NVDA look cheap- this does depend on future earnings projections, though. QQQJ looks stronger over the last year than QQQE or QQQ. The earnings moves have been violent in both directions. The SMID Nasdaq seems to be where more of the AI beneficiaries live. Having a little bit in something like GPIQ makes sense right now to harvest some of the vol and rotation. Indices can stagnate as the market rotates through subsectors. Good Luck and Godspeed.
Great points, especially on the software divergence. There's a ton of merit to picking through the index, but in lieu of that, I think your QQQJ and GPIQ ideas are smart.
GPIQ I own for the short vol exposure, but QQQJ isn't on my watch list. It should be.
Jack - lots to think about. You've highlighted multiple times that Tech is not homogeneous and certain things (like Meta, Amazon and Google) aren't in "tech". With that said, there is a real divergence. Future cashflows of companies like CRM and ADBE seem to be more uncertain while others like PLTR CRWD NET NOW seem to be more certain - at least that's one explanation of the divergence. Also, many semis on a forward P/E basis, like MU or NVDA look cheap- this does depend on future earnings projections, though. QQQJ looks stronger over the last year than QQQE or QQQ. The earnings moves have been violent in both directions. The SMID Nasdaq seems to be where more of the AI beneficiaries live. Having a little bit in something like GPIQ makes sense right now to harvest some of the vol and rotation. Indices can stagnate as the market rotates through subsectors. Good Luck and Godspeed.
Great points, especially on the software divergence. There's a ton of merit to picking through the index, but in lieu of that, I think your QQQJ and GPIQ ideas are smart.
GPIQ I own for the short vol exposure, but QQQJ isn't on my watch list. It should be.
Good luck to you as well. Cheers!