In this past weekend's newsletter, we discussed the exceedingly deviated price, and overbought conditions, not to mention valuations, as key reasons why we slightly reduced risk in our portfolios.
"On Friday, we began the orderly process of reducing exposure in our portfolios to take in profits, reduce portfolio risk, and raise cash levels.
In the Equity Portfolios, we reduced our weightings in some of our more extended holdings such as Apple (AAPL), Microsoft (MSFT), UnitedHealth Group (UNH), Johnson & Johnson (JNJ), and Micron (MU).
In the ETF Sector Rotation Portfolio, we reduced our overweight positions