Altimeter’s Brad Gerstner on CNBC:

• We have down exposure by adding shorts and reducing some positions
• Gone from 80% net long to 60% net long
• I think it makes sense to trim a little.
• I don’t think it’s a market that will treat all stocks equally
• The market is driven by technology with the reacceleration caused by AI
• If you are not beating your numbers or elevated guidance you may suffer
• We want to be in the names of companies that are accelerating like Nvidia, Amazon, Meta Platforms..

The NASDAQ index is trading of 38.82 points or 0.24%. The S&P indexes string up 0.31%.

This article was written by Greg Michalowski at www.forexlive.com.