Hey, I know this is off topic for LYC, but is anyone factoring in a market correction in January, 2024?
The S&P is being driven by NON Sellers creating this xmas rally. Why sell with your gain (+20-30%), only to pay the taxes in April 2024. I'm kind of thinking people will take money off the table in early January, and dont have the tax obligation until April, 2025. If so, a little downside protection in January could be interesting. I'd really appreciate any thoughts on this. I am thinking mainly of the USA and our tax laws.
To make this post more LYC related, I am expecting some profit taking in January, coupled with a rotation out of AI stocks (only because they have all gone through the roof. Nvidia, as an example), and I anticipate new themes will enter the market. All the 2023 chatter for RE and environmental services seem to be coming into vouge in this investment rotation. That bares well for us, and our S/P.
Also, big chatter about a China bottom in January, 2024. The CCP cant allow the economy and now deflation to continue. They will have to stimulate to claw their way out. I suppose that helps us too, from the raw materials side.
Anyway, Merry Christmas everyone. GLTA after New Years
LYC Price at posting:
$7.00 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)