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As I recall, QQQ is the NASD 100. The 100 largest cap stocks listed on the NASD. It is not a technology ETF per se, but is heavy in tech stocks.

For a 50 year old, I think your stock holdings are too aggressive. I would encourage you to put half of your 401k funds in an S&P 500 index fund or a total market fund. That is a reasonable way to diversify.

Tech stocks are an attractive growth segment, but volatility tends to be on the high side (as we are recently reminded). Holding a few blue chips is not a bad idea. Personally I would not go so far as to buy bonds or fixed incomes just now, but blue chips like Caterpillar or Boeing are industry leaders likely to do well over time. Not as well as tech stocks, but still a reasonable place to put your funds.

These days tech stocks are everywhere. Even the DJIA 30 includes 6 tech stocks: Apple, Cisco, IBM, Intel, Microsoft, and Verizon.
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