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VRA Letter: Textbook Bull Market Action Continues. The Semis and our “Buy the Dip” Methodology. Own Small Caps and Miners. BTC Approval Nearing.

Good Tuesday morning. As we wrote in yesterdays Letter, after hitting extreme overbought on steroids (EOBOS) at the end of 2023, the VRA Investing Systems most overbought readings, our key broad market indexes have quickly fallen ...

Posted On January 09, 20244 MIN Read
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Good Tuesday morning. As we wrote in yesterdays Letter, after hitting extreme overbought on steroids (EOBOS) at the end of 2023, the VRA Investing Systems most overbought readings, our key broad market indexes have quickly fallen into oversold territory. Textbook bull market action. Yesterdays trading saw the semis and tech lead higher, with SMH (Semi ETF) up a big 3.4% and Nasdaq up 2.2% (319 points). Following the news from Boeing that they were forced to ground a large number of 737’s (doors falling off of planes) BA fell 8% but even that couldn't stop the market from reversing somewhat sharp opening losses and then rocketing higher. 

The markets will get another chance to rally from opening losses this AM as Dow futures are -220 with Nasdaq -125. 

Lots of talk about both the Santa Claus rally and first 5 trading days of the year coming in with losses. Certainly not ideal, however we’ll continue to key off of semis/tech, which as we covered yesterday are once again flashing bu...

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