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All that Glitters

Every new year brings new investing themes where big institutions realign their portfolios, hoping to profit in the coming year.

Dexter Lyons, Portfolio Manager for the Issachar Fund, sees early signs of big money moving into the Energy, Medical, and Machinery Sectors as stock prices rise on above-average volumes.

“2023 could be the year Gold shines, as it has been in an uptrend since bottoming last November on above-average volumes.

Gold stocks do not yet have the accelerating earnings and sales fundamentals I am looking for, but that could happen if Gold continues to come under accumulation.

Gold is my best conviction play, and Energy stocks are a close second as they continue to advance on strong volume.

Gold may be a play on a weakening dollar as it may be losing some of its global reserve currency status. If the dollar continues to decline, the price of Gold traded in dollars could rise because it would take more dollars to buy the same amount.

The dollar may also be in a downtrend betting the Fed will pivot and slow its rate increases designed to tame the inflation they created.

Lower relative rates make the dollar less attractive among other global currencies with higher rates. Whatever the reasons behind the moves, growth stock prices are firming up, and volume is confirming the advance, so I have dipped my toe in the water, and the water is warm.”

Editor’s Note: The Issachar Fund is 15% invested in growth stocks with great fundamental/technical chart patterns, plus a gold ETF! (There is no guarantee that any investment will achieve its objectives, generate positive returns, or avoid losses.)

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