A November To Remember
This was the false narrative I saw being pushed by the lame stream media, immediately after Friday closing bell; "A November To Remember".
I also saw someone on Bloomberg refer to it as the "everything rally",
which is a bold faced lie.
Anyone who is still buying the dip on China, and Energy stocks, would have to agree....
The powers that be continue to sell energy, and buy tech #Stocks. The sector rotation; I've been predicting for months
— Veteran Market Timer (@3Xtraders) November 16, 2023
Granted this has been a nice rally, but looking back at recent history, it was really nothing to write home about.
$NYSE - comparing the past 3 November rallies -
Bloomberg also referred to the short sellers being "sad", which takes the cake, when most pro short sellers covered in early Nov., ahead of the Thanksgiving break.
I later saw the fool who hosts "Balance of Power", pose the question to a scheduled guest... "how does the November rally help Joe Biden in 2024" - paraphrasing. Then it all made sense... and just as I predicted earlier in the year, stocks would rally in order to help the current administration....
How much longer can this rally last?
Not much longer - I think - now that we see the Dow - which typically lags - catching up.
That was another prediction... that Dow stocks would lead.... and I think we will see more of that in 2024.
#DowJones breaks out. There's that "new leadership", I was blogging about weeks/months ago! #Dow
— Veteran Market Timer (@3Xtraders) December 1, 2023
I was planning to send out a newsletter telling folks that I had gotten the 401k out of the bond fund - which I did - but I never got around to it, and since I actually went all in on the Small Cap fund - I was already invested in - I didn't see any urgency...
I think the marker can go a little higher, as we get closer to Hanukkah, which just happens to fall on OPEX Friday. That's the date I'm watching.
Take Care,
AA
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