V2 Newsletter December 23 2023 Update

Happy Holidays? Or are we overbought?

December 23, 2023

Recap

The market logged its eighth straight week of gains ahead of the extended holiday weekend. The same factors that fueled the big run off late October lows were in play this week. Namely, a drop in market rates, an optimistic outlook on the economy, a fear of missing out on further gains, and an increase in speculative trading in the absence of concerted selling activity. The last factor drove the outperformance of the Russell 2000, which climbed 2.5% this week.

V2 was up this week beating the SP500 by a wide margin for the second week in a row. This was driven in large part by our strong allocation to TNA.

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