Still on the sidelines mostly waiting for a correction so I can start going in. I did sell ETH recently mainly to take profit and to reduce my holdings to just a few assets. My rookie mistake in investing has been buying a lot of different assets which eventually is hard to manage up to this day.
Back to back year end parties and the upcoming long vacation, doesn't seem to have much interesting charts lately. We'll see if there will be some Christmas rallies and effects of year end window dressing.
Let's take a look at indexes for now to see how markets are doing at a high level.
Philippine Market (PSEI)
Nothing changed much since my first post on [PSEI last November (after Trump winning)]. Although the market is correcting, we're still not sure where is the bottom. There might be one more final push down to 6300 support level. It does seem tempting to buy now and hope for some mean reversion but probably the risk is not yet worth it. Need to check more indicators.
(https://peakd.com/hive-167922/@scion02b/psei-technical-analysis-post-us-election-2024)
US Market (S&P500)
Wow, the US market has been looking good this 2024! Wish I went back into stocks earlier (last year) and started having exposure to other markets. Even prior to the US elections, the market was already in bullish mode.
Crypto Market (BTC)
I'm not relying on any crypto index yet but will be just using BTC as the barometer for the crypto market. Seems like BTC is just going to rest for a bit before it's push to maintain beyond 100k.
Hive Market
Hive has been a bit of a laggard compared to other crypto coins but I do hope it can still be highly correlated, especially when it comes to price appreciation. It failed to breach its previous high last March and has now started to consolidate. OK for long term investors (like me) so that accumulating wouldn't be too expensive.
The Use of Indexes and Funds
Too many markets and assets, so little time. I do plan to get more exposure to other markets through funds so will keep researching on those. Any suggestions for the US market ( Should I follow broad S&P500, limit to top 30 via Dow Jones Industrial Average or focus on tech i.e. NASDAQ)? I don't want to open a foreign broker so might just look into feeder funds which are either US or Global focused. These can be invested through local banks/Mutual Fund companies.
For other investment ideas, feel free to share! :)
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