Bullish Momentum vs. Bearish Concerns: Will 2024 Be a Trader's Market?

Episode #327 | September 18, 2023

Episode #327 | September 18, 2023

Bullish Momentum vs. Bearish Concerns: Will 2024 Be a Trader's Market?

In This Episode

On this week's Stansberry Investor Hour, Dan and Corey are joined by their Stansberry Research colleague Greg Diamond. Greg is the editor of Ten Stock Trader, a trading service based on technical analysis. In this role, he monitors the global macroeconomic environment, including equities, currencies, commodities, futures, interest rates, and more. Greg has a well-rounded and analytical approach to investing that you won't find anywhere else.

Dan and Corey kick off the podcast by discussing inflation. Corey notes that if you want to see how quickly inflation is accelerating, it's more important to look at the monthly change than the annual number you'll see in headlines. They also mention the Federal Reserve's "core" inflation number, which excludes food and energy, and how it isn't a real-world gauge. As Dan says...

Name an industry that doesn't spend more when oil prices go up. And, you know, food prices and oil prices are the core of everyone's life.        

Dan and Corey also cover the European Central Bank raising its rates to a multidecade high, inflation "killing people on Main Street" who are racking up credit-card debt, and poverty levels rising. "This will all come to a head somehow," Corey warns.

Next, Greg joins the conversation by talking about his overall perspective on the market. He explains why he thinks "2024 is going to be a trader's market" despite believing that huge uptrends will come to an end. And he says banks will play a crucial role in determining overall market health...

There isn't a healthy economy, or a healthy stock market for that matter, when the banks are underperforming... My point is that history has shown when banks are underperforming, there's a problem.

Regardless of these concerns, Greg maintains a bullish sentiment as long as the existing upward trend remains intact. "It's not time to sell yet," he emphasizes. He then proceeds to share his insights on the Fed, highlighting its inherently political nature and its susceptibility to political influence.

Finally, Greg discusses the differences between himself and other traders at Stansberry. As a pure trader, his primary objective is determining whether a market is poised to rise or fall. To leverage his positions, he frequently embraces higher risk levels but carefully optimizes his trading advantage in other ways. Greg comments...

Losing is part of this game. Show me a trader who has never lost, and I'll show you a liar. As long as I'm right more than I'm wrong, we're going to win in the end.