Don’t believe the rigged indexes, which showed rises for the week. Other than the few mega-caps, with their out-sized influence on the entire index, most stocks continued their new year slump. It was another give-back week for us.
Investors remain nervous about interest rate movements, or lack thereof, corporate earnings, real employment (not the erroneous numbers reported by this administration), and unresolved geo-political messes.
Other than a few risers, most of our stocks were once again among the majority of market stocks to decline on selling pressure. 2024 is off to one of the worst starts in decades, though you would not know it by the faulty indexes.
Despite a slumping trend in prices, most stocks are not signaling a sell trade. So for now we hold and bide our time as the institutional investors are.
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