Tuesday before the open

The late in the day selling Friday got lots of attention.  However, it was a pretty isolated event.  That is, most of the selling was in the biggest names in the NASDAQ.  These are stocks that have been pushing to new highs consistently for many months.  There is nothing odd about some profits taking in these issues.

With the rest of the market not panicking into a massive sell-off Friday or Monday it appears that the money coming out of those big techs is going into other stocks.  In fact, on both Friday and Monday our position in HDV, an ETF tracking high dividend issues, went UP in value.

Our call is this: reduce the exposure to QQQ in your mix and increase your IVV and HDV for now.  We still are at 100% but are leaning more towards financials and infrastructure and less towards tech.