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David Tepper’s bold “Buy Everything” call during an interview on CNBC lit a fire under Chinese stocks and the momentum crowd suddenly appears to have found new hunting grounds. If you subscribe to Soro’s theory of participating in the middle of a momentum story, then it is likely early days to get into Chinese stocks.
A small rally in U.S. stocks saw the Fear & Greed Index tip over into extreme greed territory on the last trading day of September. In this environment, I am scaling back some exposure by selling two winners and one loser in the model portfolio. I am also adding a new upcoming spin-off related stock that appears to be significantly undervalued.