The bull continues to plow ahead. I only make minor moves, and give myself a B- grade for the trading month. Sometimes doing nothing or very little is a productive way to proceed. I continue to be overweight large cap tech, along with a large cash reserve.
Here are some ETFs year-to-date:
SLV silver 40.7%
GLD gold 31.4%
SPY SP500 23.0%
QQQ Nasdaq 100 20.7%
EEM emerging mkt 14.2%
IWM Russell 2000 12.4%
TLT US20 yr -5.1%
My trading account +23.8%, so about even with SPY. I see this is a good result because I keep a large cash reserve.
Without too much fanfare, Silver is now leading the way in calendar 2024. Back in day, I established a modest emergency reserve in precious metals. Even the not so smart purchases at prior highs of around $35 an ounce are now profitable. Captain Obvious will tell the metals people that SPY and QQQ have done much better over the last 10 years.
For people with significant wealth a modest position in physical gold and silver is a prudent move. Even 2% can provide a significant buffer against some unthinkable scenarios. A week’s worth or water, food, meds is another common sense precaution that costs near nothing. With widespread flooding from recent storms, it is hard to evacuate with much more than that.
I will have less time for trading between now and Christmas. I like to have a month of almost no activity, so I can come back to the market with fresh eyes. I keep my core stocks and etfs. Overall strategy remains the same, overweight big cap tech, add on signficant dips.
