China Lows

$LU is down 26% so far in 2024.

January 16, 2024

Happy Tuesday,

The major indices stalled to start the week. Small-caps stumbled -1.21%. Tech was the only positive sector. Energy fell -2.38%.

New Highs outperformed New Lows — 64 vs. 37.

China continues to retreat. The country secured 12 of the 37 news lows.

Advanced Micro Devices ($AMD) is the best of the best. The semiconductor stocks soared +8.31% and closed within 2% of its all-time high.

Here’s the daily chart.

And quarterly (3M) chart.

Lufax Holding ($LU) is the worst of the worst. The Chinese fintech tumbled -10.63% and closed at a fresh all-time low.

The stock is down 26% so far in 2024.

Here’s the daily chart.

And weak weekly chart.

Library in the Earth

If we encounter a man of rare intellect, we should ask him what books he reads.

Ralph Waldo Emerson

Here are a few recommended readings…

Extraordinary Popular Delusions and The Madness of Crowds (Amazon)

Zen in the Art of Archery (Amazon)

Trading in the Zone (Amazon)

Thinking in Bets (Amazon)

or to participate.