Parabolic move in QQQ due to overweigthing of mega-caps and "AI"
While the magic 7 of the mega-caps are responsible for all gains in the QQQ in 2023, the broad market is in an ongoing bear market and bounced off the lows. This ongoing bear market is masked by the massive overweighting of mega-caps, which are now producing "AI", in the indices. In this situation, I am tempted to short the near term parabolic move in the QQQ.
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