Semi-Conductors ETF: A Niche Theme?

John MacIntosh: I think some really good points there and maybe interest is starting to bubble to the surface. QQQM, the the investment of NASDAQ 100 ETF, I call the mini-Qs, that has nearly four and a half billion in inflows. People are trying to set up for what they think is going to happen in the QQs very, very shortly. In markets that are extremely volatile or choppy, leveraged in inverse activity tends to pick up. And we've certainly seen that in 2023 as well. He says he doesn't like to read too much into flows but thinks it can be good sort of short term sentiment indicators.