Sell QQQ by Nov 15, 2026.

https://www.wsj.com/tech/ai/why-big-techs-ai-spending-is-3-trillion-higher-than-it-seems-e1067bb2 There’s a lot of off balance sheet commitments from the hyperscalers and some of that we know is circular funding. Alphabet and Amazon recently posted negative free cash flow and that’s before considering these commitments. The first sign that AI demand isn’t going to meet future supply, this thing is going to crumble. It will move slow initially (e.g. open source model adoption will slowly increase and take market share) then OpenAI funding will dry up meaning they can …