Traders Market Weekly: Santa Claus Came to Town

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    Wishing all a great day & blessed holidays ahead as we soon close out the year
    I’m thankful for another year of participation & learning here
    2023 has been another great year of “cautious investing”
    As the day we closed at 37,000 I moved all 401k funds to Money Market
    to lock in 30-40% gains … and not get too greedy as ECON issues are still present

    Later when we have a downturn & correction of EQUITIES after the SANTA RALLY
    I plan to go back to my FAV Vanguard funds (VITAX & VIGAX – NASDAQ 100 type funds)
    Investing pattern is (1) buy-on-dip after selloff, (2) hold for good gains, and
    (3) lock everything to safety after good 10-20% gain (based on outlook ahead)
    And never let FEAR/GREED emotions come into play — INVESTING/TRADING is all about MATH 🙂

    With WALL STREET bidding up stocks in SANTA RALLY like Dutch Tulip bulbs in 1637 – lol
    Look forward to more great insight & wisdom here as we enter 2024 🙂


    and more FAVs of season 🙂


    Great news and insight on your returns CI – thank you for all excellent input over the year. Wishing you a great Christmas and New Year.


    Equity indices in the Asia-Pacific region were mostly lower, trading cautiously in front of the Bank of Japan (BOJ) policy decision on Tuesday.

    —Equity Markets–

    Japan’s Nikkei: -0.6%
    Hong Kong’s Hang Seng: -0.9%
    China’s Shanghai Composite: -0.4%
    India’s Sensex: -0.2%
    South Korea’s Kospi: +0.1%
    Australia’s All Ordinaries: -0.2%



    The BOJ is expected to leave its key policy rate unchanged, but participants are keenly interested to hear if the BOJ signals intention to shift away from negative interest rate policy in near future.
    People in Japan, meanwhile, have not lost sight of the government’s fundraising scandal. A Kyodo News survey indicates support rating for Prime Minister Kishida’s Cabinet has slumped to new low of just 22.3%.



    China is reportedly increasing the number of state firms and government agencies restricting staff from bringing iPhones to work China, according to Bloomberg.
    In other news, China is extending the end of FX trading from 11:30 p.m. to 3:00 a.m. next day, starting today, and the PBOC set the yuan reference rate at its strongest fix (7.0933) since June 5.


    New Zealand’s

    Q4 Westpac Consumer Sentiment 88.9 (last 80.2)


    Major European indices are mostly in a modest downward drift to begin the week on a relatively slow news day, although the UK’s FTSE 100 is outperforming with the help of its energy components.

    —Equity Markets—

    STOXX Europe 600: -0.1%
    Germany’s DAX: -0.4%
    UK’s FTSE 100: +0.6%
    France’s CAC 40: -0.3%
    Italy’s FTSE MIB: -0.3%
    Spain’s IBEX 35: flat


    One news item drawing some interest, though, is a Reuters report that suggests several sources indicate ECB officials don’t see a pivot in policy before March, making a rate cut before June difficult.


    Business climate survey for December printed a weaker-than-expected result and dip from November.
    Germany’s December Ifo Business Climate Index 86.4 (expected 87.8; last 87.2)


    There is some chatter that revised Q3 GDP data for the UK will be revised into contraction territory when it is reported on Friday.


    U.S. Steel (X 50.57, +11.24, +28.6%): Nippon Steel Corporation (NPSCY) to acquire U. S. Steel for $55.00/share

    Illumina (ILMN 134.50, +7.40, +5.8%): announced that the company will divest GRAIL

    IBM (IBM 162.18, -0.05, -0.03%): to acquire StreamSets and webMethods platforms from Software AG

    PGT Inc. (PGTI 39.25, +3.16, +8.8%): Masonite (DOOR) announced a definitive agreement under which Masonite will acquire PGTI for a combination of cash and Masonite shares with a total transaction value of $3.0 bln; PGT Innovations shareholders will receive $41.00 per each PGT Innovations share they own, comprised of $33.50 in cash and $7.50 in common shares of Masonite


    Citigroup (C 50.04, +0.21, +0.4%): reports November card metrics


    V.F. Corp (VFC 18.63, -1.59, -8.0%): detected unauthorized occurrences on a portion of its information technology


    Treasury yields are moving lower, acting as support for equities.

    The 2-yr note yield is down four basis points to 4.42% and the 10-yr note yield is down two basis points to 3.91%.

    Chicago President Goolsbee

    (not a 2024 voter) said it’s too early to declare victory against inflation, according to Bloomberg. Several ECB officials do not see a pivot in policy before March, making a rate cut before June difficult, according to Reuters.


    The NAHB Housing Market Index climbed to 37 in December (consensus 38) from 34 in November.

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