DailyPlay Updates – December 9, 2022

Investment Rationale

After several down days, stocks got a lift on Wednesday. The SPX is still down over 100 points this week, and would need quite a lift today to get it back into the black. I’d still be leaning toward a move down to near 3814 in the next several sessions, but I can’t tell if that would happen before or after the Fed’s rate change next Wednesday.

Today is Friday, so it’s weekly option expiration, along with the following economic releases for investors to wrangle with:

I have further trimmed some of my own holdings this week, as well as look to sell some losers to offset winners I’ve taken off the table this year, with the goal of reducing taxable gains. Consider doing the same, most especially if you’ve already taken gains on winners.

Most PMs won’t be doing much till next Tuesday’s and Wednesday’s big CPI and FOMC statements. I suggest you think similarly.