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Taking more profits- sold IBB & CQQQ

Encouraging news about Remdesivir’s efficacy as a COVID treatment has driven markets higher.  I used this as an opportunity to lock in some profits on two stocks that have done extremely well and are within a few percent of their record high.  With volatility still at astounding levels, I think it’s prudent to remain cautious.

Sold and closed out of:

  • Biotech ETF  IBB 
  • Chinese Tech ETF  CQQQ

I was especially anxious to part with CQQQ.  Chinese stocks have been rocketing lately, adding more than $1 trillion dollars in market capitalization just this week.  Sure they can go higher, but as they say in Wuhan: A chloroquine dose today is worth a vaccine in the future.

FYI- watch for the next episode of the Wealthsteading Podcast where I’ll celebrate our 6th Anniversary with a survival story about my Grandfather.