$TSM had great earnings very early this morning. MU is slipping, but at a slower rate. It’s gone from sole profit taking to a mix of that plus competition fears. I’m primed to make changes based on what the tape reads a few hours into the trading session. That’ll be confirmation of which change to deploy. I’ve been waiting for this as we enter Q2 earnings that trickles in. My last change already absorbed a lot of pain we would’ve otherwise felt. Reminder: I always lean aggressive. As a result, there will always be volatility. Red days are natural, red weeks are natural, red months are natural. It sucks, but it’s part of investing. Especially for long-term, higher returns. But just because I always lean aggressive doesn’t mean I never change allocations to optimize convexity (upside:downside ratio) within my investing philosophy. So be on the lookout for mid/late-morning changes. I’ll send a note out. -Adam