Or does it really need to go to 30,600 (or higher)?
I really would like to get back to PE ratios that are realistic so I can invest in companies for what they are worth not what the will be in 50-100 years. Sigh, so goes the life a bear.
Note that the convergence date is around Dec 15-25. Maybe a Christmas present for the bears? LOL
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I know there is a lot fuss (me included) about how much the market has rebounded and seems like it may go on forever.
I think it is imporant to know that the market is only up 12% over the last 3 years!
If instead the market had a boring 3 years with slow but steady growth (COVID and all), then I doubt anyone would have noticed or cared.
Maybe the issue is the "snowflake" bulls that freak out at the slightest economy hiccup (oh no, no more QE and stock buy backs :( Thus, cause the market to make record breaking drops. Food for thought ;)
@Hedge_Of_The_World, doesn’t he know that force quitting just creates the pinwheel of death and everything crashes?!
Hedge_Of_The_World
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@horacejunior, It's some kind of wacky end of world type economics, where the future doesn't matter. Lol.
horacejunior
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@Hedge_Of_The_World, I’m cool with it for now. I’m delta neutral and everyday something like this happens I just keep loading VIX calls to go back to delta neutral. That way I can’t be alt-cont-deleted
Millions of first time investors entered the market this year and all they've ever known is STONKS ALWAYS GO UPPP!!!!!
It's a perfect storm of both irrational AND ignorant exuberance lol.
To think Big Money ain't gonna exploit the shit outta that when the time is right for massive short profits would be naive.
Trying to call that time also may be a bit naive as well but boy what a motherfckin testing ground for refining our models B).
Dr_Roboto
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@ProfitHarvest, the model testing thing is a really good upside to this (glass half full). I thought about that several times over the last few months. I have been able to hone my skills in 8 months that during any other time in history could have taken 8 years.
This is also a case of low volume being used by big money to drive prices up. A lot of action overnight to gap up and then low volume to make it easy to keep prices up all day. Not sure what today was all about (short squeeze?). No one wants to sell right now. Most people are holding and seeing where this thing is headed. Bears will not see their day until something spooks the market and from the looks of it no one is scared of COVID or a Democat in the white house. Does not help there is no where else to park you money. Most of my money is going to pay off debt (house, car, etc.). I am not "investing" in any stocks at this point unless it is purely for a swing trade.
FYI, my first real job with a 401k and other investments was not until 2005. The crash in 2008-09 did not phase me. I didn't have enough money to care. Most of my investments happened 2009+. Did not become an avid investor until last few years and not a super serious TA person until this year. I did not need to know much about TA and the market from 2009-2018. Stonks only went up, just keep buying and all was good LOL
ProfitHarvest
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@Dr_Roboto, yea, Algos are milking the shorts, settin up for a harder crash though to milk the bulls next