There was mostly green on the screen in the penultimate session of 2023. 

Even with the runup in also-rans, and deep under-performers in the last two months, the median stock return versus the S&P 500 is abysmal. This has been a negative harbinger, but it doesn’t have to be.

Retail Runs Circles Around the Pros

There was a sharp decline in bullishness over the past week and an even greater jump in bearish, as retail investors got a little antsy.  Nine-week winning streaks are great, but the velocity of this leg of the rally seems too good to be true.

In the first week of November, retail investors experienced a record one-week reversal of sentiment to bullish from bearish and were north of 50% bullishness by December 13^th.  Active money managers are just now reaching peak exposure (bullishness).  The instincts of retail investors have improved dramatically. 

Thank You

I want to say thank you very much for your trust in Wall Street Strategies.  This was a tough year.  Most of the street was bearish, and the narratives pointed to difficult times for a long time, including interest rates being “higher for longer.”

I’m very proud of the performance and handholding.  We adjusted, but we never bailed.

I’m very humbled by your steadfast belief.  You had questions and angst but stayed the course.

2024 will be extraordinarily eventful for the nation, the world, and your economic well-being.  We’ll be here working hard, staying open-minded and nimble, and sticking with what has worked for several decades.

If you are not a current subscriber to our Hotline Service, contact your account rep or email Info@wstreet.com to join today and be ready for 2024.

Thank You

Happy New Year

There will be no afternoon note.