Harpinder Kang @HarpinderKang: "𝙀𝙣𝙙 𝙤𝙛 𝙈𝙤𝙣𝙩𝙝 𝙖𝙣𝙙 𝙋𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤..."

United Kingdom

𝙀𝙣𝙙 𝙤𝙛 𝙈𝙤𝙣𝙩𝙝 𝙖𝙣𝙙 𝙋𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤 𝙐𝙥𝙙𝙖𝙩𝙚 Portfolio performance: up 3.6% for the month so far, compared to gains of 5.2% for the $NSDQ100 and 2.5% for the $SPX500. 𝙈𝙖𝙧𝙠𝙚𝙩 𝙊𝙫𝙚𝙧𝙫𝙞𝙚𝙬 Earnings season is in full swing, with major large-cap tech names already reporting. The spotlight now shifts to key semiconductor companies scheduled to release results next week. Despite some concerning headlines, markets have shown remarkable resilience, largely driven by continued enthusiasm around the AI trade, which remains the key source of momentum. 𝙋𝙤𝙧𝙩𝙛𝙤𝙡𝙞𝙤 𝙈𝙤𝙫𝙚𝙨 This month, I made several adjustments, adding to select positions and initiating a few new ones, while still maintaining roughly 33% in cash, ready to deploy on potential market pullbacks. I’m keeping a close eye on $SPGI (S&P Global Inc) (S&P Global Inc) for potential entry opportunities. I have fully exited my $AMD (Advanced Micro Devices Inc) position for now and plan to re-enter on weakness. Additionally, I’ve trimmed my Google holdings to lock in profits after the recent run-up. On the defensive side, I’ve added to short positions in a few semiconductor names, as I believe sector expectations are running too high. A cooling-off period seems likely, which also provides a useful hedge against my ASML exposure. 𝙁𝙞𝙣𝙖𝙡 𝙏𝙝𝙤𝙪𝙜𝙝𝙩𝙨 Markets continue to grind higher, but risks are clearly building. Technical indicators look overbought, sentiment is euphoric, and the VIX remains near its lows. While anticipated rate cuts are giving equities a short-term boost, eventually earnings and macro fundamentals will regain focus; potentially becoming a headwind. From a technical standpoint, the S&P 500 still appears capable of pushing toward 7000, which keeps me constructive overall. However, I’ll continue to hold cash and look to add quality names on any meaningful dips. Thanks for reading, happy to answer any questions below.

3 Mentioned

NSDQ100

SPGI

S&P Global Inc

AMD

Advanced Micro Devices Inc

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