End of the Year Trading

THE WEEK

Twas the night before Christmas, when all through the house not a creature was stirring, not even a mouse.

The same could be said for the Market place with low average volume and not much movement day-to-day – quiet like a mouse. Wednesday was the exception with a little drama and a down turn. But the Market recovered and once again battered up against the 52-week high.

LOOKING AHEAD
I anticipate more ‘quiet like a mouse’ Market price/action this next week. This is a time when traders and everyone else is focused on family and friends. There are a couple of things to be aware of as the week progresses. On Thursday 12/28/23 at 11am Eastern, Crude Oil Inventories report. The data may momentarily impact the Market place and our trading.

I believe those inventories will be a factor in the upcoming Presidential race. When Biden took office inventories were high which kept gas prices inline. The emphasis on ‘green’ energy and the movement towards electric vehicles along with new government policies on gas pipelines and gas and oil exploration has affected all of our basic living expenses. We saw prices at the pump rise as well as home heating costs.

Now we our being threatened with a new coalition of gas and oil producing countries – BRICS (Brazil, Russia, India, China and South Africa). The other factor that could affect Market prices is the exit by traders of losing positions. They want to take those losses into 2023 tax picture.

HOW AM I DOING?
I just had my worst quarter in a long time. My gains didn’t begin to equal prior quarters. It was my own fault as I was distracted by problems in another entity I own. Those problems have now resolved themselves and I am determined to once again double my trading account in the 1st quarter of 2024.

That is the DEEP DIVE subject on this week’s webinar on Thursday.

An in-depth Evaluation of My Trades
What I did right, what I did wrong
(I don’t want to keep repeating bad setups and trades)
And Setting Trading Goals for 2024