2023 just ended with unbelievable performance by most Indices, Nasdaq was the superstar with 43.50% gain...
Did any of the wall street pundit predicted 2023 with any clarity....answer is NO NO NO....
All pundits were extremely incremental in their predictions....
Lot of verbage was wasted in articulating how bad this market will be....
YES...It was a tough market and sentiment was very negative which IS always a contrary indicator....thus an outperformance by most Index....
BUT going into 2024....everybody is a " roaring bull "
Which has stopped me in my track.....still believes in " contrary Indicator theory "
My guess
1st half of 2024 will be challenging to get rid of " euphoria & exuberance "
1st half needs a well defined game plan.....
Swing trading @ best....
Daytrading more like It.....
Instead of sector focus which may be a trap....go for opportunistic trading where the money flow takes you....no favorite stock or sector needed...,..
Use RSI as your guide for a quick trade....
Too many stocks have been played out already....
Look for emerging stocks & sectors.....
How to spot those ideas....look for high volume stocks which are UP.....
Many famous stocks needs to digest gains, which means mostly sideways movement as there are too many backers of well known names....
Idea IS to make money, how to do it, you have to have a game plan....
Making money on wall street IS NEVER EASY
We have seen the-best of best FAIL BADLY...look @ Cathie Wood...how she failed to perform for 2 years in a row with great insight & still down big time from its high.....
Sometimes QQQ may be the easiest investment as It has outperformed big time again & again......
SO....do not waste time in chasing so called pundits....as the famous quote says all the time " THEY KNOW NOTHING.....
Good luck with your own version of trading or Investing....
BLOG does NOT give buy or sell.
Saleem
11 comments:
Hi Saleem,
Last week: +2.54% (YTD, and 2023 final tally: +108.22%)
Portfolio Leaders: PSNL
Portfolio Laggards: SOXS
And so we start anew - everyone back at 0%!
Given the run-up we've experienced in the last few months, many stocks have anticipated good news ahead, which makes the future opportunities more scarce. I think 2024 will come down to individual stories and companies, and hopefully we are all ready to capitalize when we spot something brewing. I ride into 2024 with some cash and scouring for fresh ideas :)
Portfolio: ULTA LYFT HIMS SNAP ENPH PSNL MTRN AGCO ZENV(0.5x) TYGO(0.5x), cash 13%
Stocktrader
Hi Saleem,
Bought SPOT @ 188.16 on user growth and improved margin outlook
Stocktrader
Hi saleem,
Added small to AGCO @ 123.07 and SNAP @ 16.07 to top off positions
Stocktrader
Hi Saleem,
Added more small to:
SPOT @ 186.75
LYFT @ 14.31
AGCO @ 123.53
Used all my cash.
Stocktrader
Hi Stocktrader,
Last week UP .86%
2023 UP 107.80
Saleem
Hi Stocktrader,
Good luck with SPOT & more of LYFT SNAP AGCO....
Congratulations on beating me handily for 2023....Nice to be the-best of this BLOG many years in running.....consistent performance IS a very good indicator of the depth of your FA & TA...
Saleem
Hi Stocktrader,
Bought CNQ.TO @ $87.50
Bought LSPD.TO @ $26.08
Saleem
Hi Stocktrader,
Bought SHOP.TO @ $98.25
Bought SNAP @ $15.98
Saleem
Congrats to both of you guys! Well deserveš Hope for another stella year!
Hi Saleem,
We both round to +108% - I call it even!
Good luck with the new adds - today provided a nice entry for many!
Hi Stock Rookie,
Thank you for the kind words - good luck to all of us in 2024!
Stocktrader
Hi Stock Rookie,
Thanks for your feedback on our 2023 results.
Appreciated your good wishes for 2024....
Wishing you a great money making 2024$$$$
Saleem
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