The S=P 500 continued it''s relentless climb up the chart in 2020 this past week, rewarding" perma" bulls, following a "Buy and Hold "strategy and continuing to provide these bullish trend following traders with double digit returns while defying bearish naysayers,myself included,rising right up to the Wedge Triangle Apex of S+P 3700.
The market has done its latest fete of magic by forcing new buyers and new money into the market at higher and higher levels,and then rewarding them for buying in
This is a high risk strategy that leaves little room for error. Any "significant" bad news is simply ignored, or factored out. The "why worry, be happy a vaccine is coming mindset"is now in full complacency.
So next week should see yet another technical breakout, bulls say on the way to S+P 4000.
My advise to you is to really watch closely at the technical pattern unfolding "minute by minute."in the market. Don't get burned,by that fire in the theatre. If you wish to ride the very big wave up, make sure you know "how" to get to the fire extinguishers,.just in case
With the VIX basing at 20, there's going to come a time on the distant horizon when fear will reassert itself strikingly over greed. But never mind all that, with all the bad news that's out there this year just enjoy the party Greed is good ..remember ?
kind of makes one wonder why we went to school to learn about fundamental things.
This is no "market" when market caps get added to levels that defy basics for no other reason than because.
Its also funny when we sit here with a straight face and say oh its going to this or that number yet we all know it makes no sense for it to do this.
When a Company adds billions to its market cap one day after another with no additional revenue or profit or even story, other than the mantra a vaccine is coming or waiting for the biggest socialist handout the largest capitalist system will ever see is simply beyond logic! Its like watching Germans go to war in the 30s because they believed Hitler was a superior being when in fact all he was just a narcissistic drug addict!
I don't know, maybe after trading stock since the early 80's, I have become old news and yes maybe Greed is good, but one old adage will still ring true.
History repeats!!
and when it does, there will be blood on the streets and much of it
Trendbeat
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@tkits,
It's all about gambling, get rich quic and bigger fool scams for todays generation of investors.
It's still legal because retail hasn't been burned and nobody asks for protection from it.
Skewed to the max on every bubble we observe...
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Currently Nasdaq is more ridiculous than crypto crap
DaddySawbucks
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Maybe:
Trendbeat
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ATH on VIX75 to... 620k+
I guess when pandemic is actually looking better/over and people get back to regular lives and economy actually looks better, the the real correction will come...
This whole bubble was one big hedge by the big boys against the underlying real issues.
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Retail investors who think they survived the crisis by betting correcly are in grave danger of thinking the market will perform even better when things look upon the ground.