2024 US stock trading strategy...short term vs long term...

 As we are looking into 2024 we need to plan NOW...

In 2023 we have only 9 trading days left....

Performance is staring @ us....mostly good.....

Past is NO guarantee for future performance

What worked so well in 2023 with benefit of hindsight or Monday morning quarter backing, answers are so obvious....

BUT 2024 is a different ball game....yesterday's performance have little relevance

None of us knows what will work....

This where " deep analysis " and looking into future trends helps

Future trend is telling us the following obvious ones :

- Interest rates are coming down and Fed will cut in spring or earlier based on market forces

- Mighty inflation is coming down as economy is forcing everyone to sharpen their spending habits

- AI is into everything / everywhere....who will gain the-most or optimize the-most will keep winning.

- Housing / Homebuilders are direct beneficiaries of lower rates.

- Lower Interest rate will benefit consumer & economy @ large, more disposable income....

SO IF we narrow down to given trend which I have highlighted, many stocks will jump in your mind....BUT BUT NOT SO FAST....

Analyze PE for long term strategy & look @ RSI for short term trading....

A mix of both short & long term portfolio should work the-best

Some other themes have developed in the meantime, It IS oil prices which has crashed, It has nowhere but to go UP UP UP.....

SO...do your own thinking / strategy and create a portfolio which makes sense to your Investing / Trading style.

Good luck with closing 9 day's of 2023......

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed the week mixed with Nasdaq & DOW in green.

S&P 500 @ 4719.19, low 4704.69, high 4725.53

RSI @ 78.95

VIX Down 1.67% @ 12.28

Oil @ $71.79

Gold @ $2033.80

Canadian $ @ .6622

In my portfolio :

Bought CNQ in NYSE $62.88  & Toronto $85.22 Adding 40% more each time.

Here is my portfolio weighting :

CNQ                40.57%

GDXJ             16.40%

MSFT            11.56%

NVDA             9.45%

LSPD              6.71%

META             6.48%

ABX.TO         5.46%

SOFI              2.04%

MUX             1.33%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .19% to 2.72%...NICE !!!

 Indices closed UP again in new record territory.

S&P 500 @ 4719.55, high 4738.57, low 4694.34

RSI @ 79.05

Internals were :

UP volume led by 4.28 to 1 in NYSE & 3.17 to 1 in Nasdaq

Advancing stocks led by 4.48 to 1 in NYSE & 2.44 to 1 in Nasdaq

Net new highs were leading by 803 in NYSE & 386 in Nasdaq

VIX UP 2.38% @ 12.48

Oil @ $71.58

Gold @ $2044.90

Canadian $ @ .6590

In my portfolio Sold SHOP @ $103.00 in Toronto

Portfolio CNQ LSPD SOFI GDXJ ABX META MSFT NVDA MUX

Internals were the strongest & Russell 2000 was the mega star today again with 2.72% gain....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.37% to 3.52%....NICE !!!!

 Indices closed near high of the day on "dovish Fed "

S&P 500 @ 4707.09, high 4709.69, low 4643.23

RSI @ 78.22

Internals were :

UP volume led by 9.08 to 1 in NYSE & 4.27 to 1 in Nasdaq

Advancing stocks led by 7.00 to 1 in NYSE & 3.08 to 1 in Nasdaq

Net new highs were leading by 499 in NYSE & 170 in Nasdaq

VIX UP .99% @ 12.19

Oil @ $69.47

Gold @ $1997.30

Canadian $ @ .6426

Portfolio ABX.TO CNQ GDXJ LSPD MUX META MSFT NVDA SHOP SOFI

Indices had one of the strongest Internals in a long long time, sign of more bullish action, DOW @ new all time highs and small cap had the-best days in a long time.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .46% to .70%....NICE !!!!

 Indices closed UP despite hotter than expected inflation data.

S&P 500 @ 4643.70, high 4643.93, low 4608.09

RSI @ 73.22

Internals were :

Down volume led by 1.41 to 1 in NYSE & 1.08 to 1 in Nasdaq

Declining stocks led by .98 to 1 in NYSE & 1.28 to 1 in Nasdaq

Net new highs were leading by 258 in NYSE & 11 in Nasdaq

VIX Down 4.43% @ 12.07

Oil @ $68.61

Gold @ $1993.20

Canadian $ @ .6383

Portfolio ABX.TO VNQ GDXJ LSPD MUX META MSFT NVDA SHOP SOFI

Indices started red BUT closed @ absolutely high of the day, a classic definition of a strong bull market.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .11% to .43%...NICE !!!

 Indices kept marching to its own drum, closing @ record high levels.

S&P 500 @ 4622.44, high 4623.71, low 4593.39

RSI @ 71.16

Internals were :

UP volume led by 1.31 to 1 in NYSE & .67 to 1 in Nasdaq

Advancing stocks led by 1.16 to 1 in NYSE & .85 to 1 in Nasdaq

Net new highs were leading by 228 in NYSE & 62 in Nasdaq

VIX UP 2.27% @ 12.63

Oil @ $71.32

Gold @ $1993.70

Canadian $ @ .6426

Portfolio ABX CNQ GDXJ LSPD MUX META MSFT NVDA SHOP SOFI

Indices opened lower but close @ high of the day, cannot give more bullish signal.

BLOG does NOT give buy or sell.

Saleem

US stock market looking to 2024....

 US stock market has roughly 14 trading days left in 2023.

It IS good to look back and see where we made trading mistakes.

Also, It IS a great time to plan ahead for 2024 trading

US stock market is always unpredictable in best of days....

BUT last 6 months have been extremely choppy.

From July to October of 2023 it tested nerves, determination & ability to think straight, more reactive than pro active ....

October to December..9 weeks nerves were soothed & calmed with most stock recovered.

SO the big question REMAINS what will work in 2024....

Crypto is moving

Gold is ready to move

Oil may make huge move

Housing may be in bull mode again..

AI remains top idea for 2024 & beyond, leaders will remain major beneficiary, small player may fade into background.

IF one focus on these areas alone....2024 may not be so challenging ....

It IS a good idea to do a thorough homework in analyzing your current portfolio with a realistic & critical approach...

I have already made my moves for 2024 last week....

Please pay attention to forward Sales & PE...IF its NOT moving in positive mode make a quick decision.

Good luck with your own analysis & looking forward to 2024...

BLOG does NOT give buy or sell.

Saleem