Weekly Market Recap: Did The Santa Claus Rally Already Happen?

A pullback looks increasingly likely

With such a massive run-up in stocks and bonds in November, should we still expect a Santa Claus rally in the markets this month?

Or did it already happen?

Portfolio manager Lance Roberts thinks that may be the case, or if we do get one, it will be quite mild. Unless a pullback happens soon, which Lance thinks is quite possible.

He's reducing his long exposure and waiting for a pullback at this point.

In this week's market recap, Lance and I talk about the strong correlation between financial asset prices and net liquidity. For much of this year, "stealth" liquidity from sources like the BTFP, the Reverse Repo program, and fiscal deficit spending have helped buoy stocks to near record highs.

Will that continue in 2024?

We also talk about the odds for recession risk, which are becoming cloudier. Experts are now quite divided on the matter.

With such uncertainty, how should an investor consider positioning their portfolio?

Lance shares how he, as a capital manager for clients, is doing so now. He also shares his 10 steps for success in life, which I agree with 100%.

To watch this week’s market recap, click here or on the image below:

VIDEOS THIS WEEK

In case you haven’t yet seen them, here are the other videos that ran on the new Thoughtful Money channel this week:

• Danielle DiMartino Booth: The Fed's Sins Are Finally Going To Catch Up With Us In 2024

• "We NEED A Recession!" Says Wolf Richter, Though He Doesn't See One Happening Soon

• Michael Pento: "Look Out Below!" - Stocks So Overvalued Phase 2 Of Bear Market To Hit Soon

TM NOW ON PODCAST PLAYERS

Just a reminder that if you prefer to listen to my interviews on your podcast player, Thoughtful Money is now available on the major podcast platforms:

• Apple Podcasts

• Spotify

• Google Podcasts

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cheers,

A