The Vanity Trade 2024: All About Me!
According to Wikipedia,
"Self-help or self-improvement is a self-directed improvement of oneself—economically, physically, intellectually, or emotionally—often with a substantial psychological basis."
In the Outlook 2024, I quote Raymond Lo yet again,
"The Dragon is considered a ‘Star of Arts.' The industries that will perform better in the Year of the Dragon will be related to the Metal and Wood elements. Metal industries are beauty and skin care; wood industries are media, fashion...."
This got me thinking about the consumer and the habits of 2023 and how they could continue or change in 2024.
With disposable income still quite high, consumers who spent the last half of 2023 in YOLO or revenge spending go into vanity mode in 2024.
Fashion, beauty, skincare, elective surgeries, self-help, diet drugs, and maybe dating stocks do well.
Think of it as a switch from all about my family and fun for them to all about me and feeling good about myself!
On our list of stocks to watch for skin care, beauty, and fashion:
1. Coty, Inc. (COTY)
2. Estee Lauder (EL)
3. e.l.f. Beauty (ELF)
4. Ulta Beauty (ULTA)
5. Inter Parfums (IPAR)
6. Nu Skin Enterprises (NUS)
7. Polo Ralph Lauren (RL)
8. TJX Cos. (TJX)
9. VF Corp (VFC)
Plus, PVH Corp. (PVH) and Tapestry, Inc. (TPR).
For cosmetic surgery we are watching
1. Zimmer Biomet Holdings (ZBH)
2. Allergan, now part of AbbVie (ABBV). Allergan is known for products like Botox, Juvederm, and CoolSculpting
For diet drugs
1. Novo Nordisk (NVO)
Other areas to watch
1. Peloton (PTON)
2. Match Group (MTCH) and Bumble, Inc. (BMBL)
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Mish in the Media
Mish and team look at 2023 and make several predictions on commodities and trends for 2024 and vanity stocks in Benzinga Pre Market Prep.
Mish discusses gold, silver and why self care and "all about me" can trend in 2024 in this video from Yahoo! Finance.
Coming Up:
December 27: TheStreet.com
December 28: Singapore Breakfast Radio
January 2: The Final Bar with David Keller, StockCharts TV
January 5: Daily Briefing, Real Vision
Weekly: Business First AM, CMC Markets
ETF Summary
S&P 500 (SPY): 480 all-time highs, 465 underlying support. Russell 2000 (IWM): 200 pivotal. Dow (DIA): Needs to hold 370. Nasdaq (QQQ): 410 pivotal. Regional Banks (KRE): 47 support, 55 resistance. Semiconductors (SMH): 174 pivotal support to hold this month. Transportation (IYT): Needs to hold 250. Biotechnology (IBB): 130 pivotal support. Retail (XRT): The longer this stays over 70.00, the better!Mish Schneider
MarketGauge.com
Director of Trading Research and Education
