Happy New Year 🎊 one and all! Another year has passed... Another gain / loss has been made. However, it should not be too bad a year for one and all.
Hindsight is a beautiful thing. With hindsight, everything seems easy. I would love to say that if I had known, I would sell all my loss making small mining companies and get into crypto-based speculation, including bitcoin, MicroStrategy and especially Coinbase Global at the beginning of the year.
I guess this is not what this article is about. Although I have been reading and even working around cryptocurrency based technology, I still convinced myself that it is an investment. Maybe if I can go back 20 years in the future, I might have a different take in life.
If I could start my 2023 investment journey again, with the benefit of hindsight, I would throw my lot behind Nvidia despite its run... What a run it continues to make through 2024!
Driving through Hobart, Tasmania on New Year's eve for the first time in my life, life takes on a different perspective. Visiting historic sites during New Year's day in Port Arthur also helps to put investment into different light. I am using this time to read through some investment books to make myself a better investor.
New Year is a time to rest and recharge ourselves and look forward to the future. Both Nasdaq and S&P 500 have been on the uptrend since November last year. I expect the stock markets to continue this rally for a while before correction and correction it will happen!
Sigh... Half of what I had written disappeared from the page... Just going to summarise it below.
RSI for both weekly charts are at oversold territory. I expect rallies to continue before correction takes place. Likely resistance lines at all time high for both indices. There's both the possibilities of double top and breaking up. Trading carefully when they are near their tops. Only when they have cleared cleanly do you follow the uptrend along.
There's a number of well known significant events that will affect the markets in 2024, wars on both Russian and Israelis fronts, inflation and central banks' rate directions, and US Presidential election in November. Any of these events could turn the markets upside down! If I am to guess, I expect the US Presidential election or the lead up to it to be that event!
For me, I will follow the rallies up. However, I would be careful to think that I could catch the bottom when the market makes lower highs and lows.
Happy 2024 everyone!
@LMSunshine @CaptainTiger @TigerStars
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- JulianAlerander·01-01TOPHaha, love the enthusiasm and optimism, Happy New Year to you too! 🎉 It's definitely interesting to think about the "what if" scenarios and how hindsight can make everything seem so clear. And hey, who knows what the future holds? Maybe you'll have that different take in life sooner than you think! 😉 As for the stock markets, it's always tricky to predict the exact timing of corrections, but being cautious and following the trends sounds like a smart approach. Good luck with your investment journey in 2024, and here's to a successful year for all of us! 💪📈 @LMSunshine @CaptainTiger @TigerStars1Report
- LMSunshine·01-03TOPHappy holidays☀️🏖️ and happy recharging🔌🔋LikeReport
- Aqa·01-03Happy 2024 and happy holiday!LikeReport