Below is a simple chart of the NASDAQ 100, with a vertical line separating one calendar year from the next. The years were 1999 and 2000. Put yourself in the head of some permabear weirdo like myself, on the heels of an insane, crazy rally. You figure 2000 CAN’T be anything like 1999. It just can’t.
And, sure enough, blammo, the selling starts! Yay! The bear market is here! And yet……..the damned thing went up another 40% in a matter of weeks! AIEEEEEE!!!
Of course, ten weeks into the new year, the entire bull market was toast, and trillions of dollars (back when a trillion bucks actually MEANT something) were wiped out. The final surge, in the grand scheme of things, didn’t mean much.
By no means – – no means at ALL – – am I suggesting 2024 will be like this. What I am saying, both to you and myself, is don’t get too excited in 2024 starts off weak, even quite weak, within a few days of the start. Sometimes it’s just another trick the bulls are pulling out from their sleeves, and you can get wrecked!
