My call: stay invested, but trim selectively.
This rally is not purely speculative. It is backed by real capex, strong earnings breadth, and a sharp repricing in AI infrastructure names like Nvidia, Advanced Micro Devices, Micron Technology and Sandisk. The semiconductor index is up sharply, and earnings have broadly beaten expectations.
That said, six straight weekly gains + elevated valuation percentile = thinner margin of safety. Forward returns from here are likely more volatile.
My positioning:
Core compounders (60 to 70%): hold
High-beta runners (20 to 30%): trim into strength
Cash (10 to 20%): rebuild for pullbacks
Next week matters. If Alibaba Group, Tencent and Cisco Systems confirm AI monetisation, networking demand, and enterprise spend, the bull case extends. If not, the market may rotate or cool.
Do not go all cash. Do not chase vertically either.
In this tape, disciplined rebalancing beats bold market timing.
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