9 Minute Read

Tackle Today: Tech on Fire

January 19, 2024

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«Will We Get Other Participation?»

Coach Mark here.

In 2023 we had tech lead most of the way. Big moats. Flight to safety. AI. The reasons for the outperformance can be debated but the end results were the same. Massive overperformance on the year.

In that overperformance, outside of the everything rally to start and end the year, we didn’t get a lot of participation elsewhere. It was a tale of two markets for the bulk of 2023 from a trading perspective. There were a handful of names doing lights out and everything else that on average kind of tread water for the better part of the year.

The last couple of days have felt to me a lot like periods of 2023. The Nasdaq 100 hitting new all-time highs while your average stock is left behind. RSP (Equal weighted index of S&P 500) is down on the year and small-caps have had a terrible start to 2024. Two thoughts on this matter.

First, this type of environment can be a decent trading environment as both bullish and bearish trades can be found. You just must be willing to look on both sides of the ledger. Second, if you traded in 2023 what did you do right and what did you do wrong during these types of stretches? Take some time to review your trades during these stretches to see what you can improve on.

Two days does not a trend make but the last two days certainly feel like a lot of 2023 felt like and I will do some tweaking in my own portfolio accordingly.

Have a fantastic weekend!



Chart of the Day: Nvidia (NVDA)

Nvidia. What a breakout and what a performance. Late in the short-term trend to chase but one of the clear winners at the start of the year.


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