Minerva Market View for Jan 9, 2024
Markets seem to be a crossroads between bullish and bearish. Here's how we're positioned.
Good evening! We had turned defensive in the last few days as posted on Twitter:
Right now, the market seems to be in a choppy environment. We will see if today’s bullish move continues. Several stocks are setting up well after this consolidation, and if the rally resumes, we will want to participate.
On the other hand, the seasonality points to a weak January, as shown in the chart below from Tom McClellan:
Here is another look at how January, Q1, and the whole year fare after a negative Santa Claus Rally and negative first 5 trading days:
Other indicators are sounding a more bullish tone:
Overall, it is a mixed picture right now. We plan to stay invested in a range of 50% or so net long until we get a clear picture from the market on the direction.
Portfolio and Performance
We had a good day along with the market, with several holdings rising more than 2% and just a couple falling by a bit.
Watchlist
Here is our watchlist for tomorrow:
AGNC 0.00%↑ NLY 0.00%↑ CLS 0.00%↑ PLAB 0.00%↑ $ABBNY AMRX 0.00%↑ MRVL 0.00%↑ AMPH 0.00%↑ SKX 0.00%↑ EXP 0.00%↑ BLD 0.00%↑ TNC 0.00%↑ PLUS 0.00%↑ CLBT 0.00%↑ PATH 0.00%↑ PAY 0.00%↑ FROG 0.00%↑ ASPN 0.00%↑ GCT 0.00%↑ $FNMA CPLP 0.00%↑ INVZ 0.00%↑
Worth checking out
That’s all for today - happy trading!