A Large Rotation This Week.

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• A rotation from outperforming mega-tech & risk-assets into energy, commodities, USD and equal weight S&P 500 is underway this week.

• QUAL>SPY

• QQQ’s high-watermark is $320 & BTC to $30K

• China innovation (KSTR) is catching our eye. CPNG also.

• Commercial office space is the next domino to fall. Look at VNO & SLG getting smashed.

• Fidelity, who manages $4.5 trillion, just launched Bitcoin trading for all clients and the Nasdaq announced it will offer crypto custody by Q2. Link Here

• If the Fed pivots too early and into a high inflation scenario, it would be bearish for USD thus helping bid BTC & gold

• Trading one asset class is trading blind.

Ask The Audience:

YTD Performance: Mega-Cap Outperforming. Don’t chase it, fade it.

The high-watermark on QQQ is $320

Quality is still the better place to be in equities

Energy leads yields lower, but not for long. This is our chart of the year

Vornado (NYC office space) is exploding. A 14% div yield is BAD. The next domino to fall.

Important Asset Class Pairs To Monitor

Return always wants its risk payment. NOT INVESTMENT ADVICE.