I know this is going to sound like sour grapes, but let me preface this by saying I’m not a bear and not down for the year. But the overall look and scope of this market in 2024 isn’t exactly great. Sure there are frantic areas in the AI, database, and semi space; but all of those are related and if you’ve been reticent to chase $NVDA you missed out.
Below is the algorithmic value of all stocks rated by Stocklabs. The grading system is from 0 to 5 (best). You can clearly see the median score has been dropping all year.
The NASDAQ is +20% YTD, so how could this be? How about this for a stat. If you took all of the stocks in the market today, over 5000 over them, the market is DOWN 4.5% in 2024. This sort of jibes with the fact the $IWM, the small cap index, is flat for the year at a time when $META and $NVDA and $GOOGL are hitting fresh highs.
Again, the reason for this is simple: the big winners have already been selected. Everyone else is simply trying to pick up the scraps. If you’re invested amidst the scraps, you’ll find yourselves frustrated by the lack of progress at a time where all of the big capped stuff trades up.
A day like today is especially tricky because the $IWM is besting the $QQQ, which might cause many of you retarded apes to hypo fixate on the “next winners.” But the most probable outcome is the path we’ve been on, with disappointment in anything but the largest companies in the world.
If you enjoy the content at iBankCoin, please follow us on Twitter
