This is my month of limited trading activity. I’ll ramp up slowly into the holidays and new year. The market has been incredibly strong. Even the Russell 2000 is participating in the rally. I’ll make another post for year end.
Here a few ETFs year-to-date:
QQQ
Nasdaq 100 52.2%
SPY SP500 22.7%
IWM
Russell 2000 13.0%
GLD
gold 10.2%
EEM
Emerging markets 5.2%
TLT
US20 yr -0.4%
SLV
silver -0.9%
My trading account +24.2%. I am holding my own despite having huge cash reserves most of the year. The Nasdaq is up an incredible 52% for the year. The chart formations for SPY and QQQ are bullish. However, as many readers will tell me, charts don’t mean that much.
My overall thesis of AI being a big deal remains. Companies are rushing to invest in AI, perhaps in folly, but right now the people selling the shovels in the gold rush, the big chip makers are benefiting. One perhaps unforeseen effect is the rich, getting even more of an advantage, because it takes a huge capital, and educational investment to understand and use AI well.
Luxury house builder TOL saw 26% of its new house customers paying cash for $1 million dollar homes. This compares to about 10% cash buyers for the past 20 years. Of course 7 and 8 percent mortgage rates are way different from 3 or 4 percent.
Merry Christmas. I’ll have a year end round up around 12/30. Cheers!
