The last time the NASDAQ hit 5,000 was March of 2000, a time of pure hedonism, stupidity and wonder. I was a wee lad, brand new in the business, making money hand over fist. I knew it all and could not be told what to do, for I had cracked the timeless code of the markets and knew how to print money on a daily basis.
I’d go to work, a 20 something punk from Brooklyn, and leverage out my accounts, spend a few hours on the Bloomberg terminal and then print money. None of my family or friends knew how much money I was making; for if I told them, they’d likely attempt to mug me.
It was the best of times until actual centaurs appeared on the NYSE and kicked in the faces of everyone who was buying dot coms, effectively ending the rally, plunging Wall St and the economy into the pits of hell. It took the tragic events of 9/11 to drag us out of the morass we were in, the very worst market in the world.
Well, here we are, 15 years later, encroaching on NASDAQ 5,000 again. This time around we are a little bit smarter, uglier, and experienced. Unlike in 2000, this market isn’t built on fantasy. Corporations are banking immense coin and innovation is just as profound, if not more, than in 2000.
If we were to top out again at 5,000, that would be pure comedy. “The Fly” doesn’t believe in comedy; ergo, we will continue to break necks until the market Gods decide we’ve had enough.
Hugh Hendry, take it away!
https://www.youtube.com/watch?v=o7pVjl4Rrtc
Nortel- FU
I WILL BUY ALL YOUR NASDAQS
FIG
FIG
FIG
Stop trying wave your FIG around here like some barely legal cheerleader.
i hope the market goes up but treasuries dont fall too much in the process
How many Nikkeis tonight sir Fly
yes. five thousand nasdaqs.
And then Nasdaq Japan-Style
Actual centaurs are a lot more interesting than black swans. A black swan can’t kick you in the face.
We are all half centaurs.
Last time nasdaqs counted 5000 the dows were 10000. Just for some perspective.
“Hugh Hendry, take it away!”
lol
SPX 1950 by Friday. But then all that other higher shit will probably happen. September is really the danger zone. Fed very likely to raise by then (>50%), major Greek payments come up, Euro shit, just before elections la lal alalalala. This game is too easy now.
Shit I meant 2050, jeez I’m not that doomy.
Can somebody come over and push the sell button on my GPRO? I swear I tell myself I should’ve sold this on a weekly basis now.
Something like GPRO, if you don’t sell on a 12% pop day like yesterday, you’re gonna lose money. GPRO is not a tax play… it is for trading.
*same as it ever was*
It was deceptively sweet. A great time to gain some ground. We really did party in ’99.
What I wouldn’t give to have been around for that market. Maybe never in my trading lifetime will I get anything half that good.
Try March 2009 – the generational Bottom.
You’d buy a stock at $35 before lunch and by the end of the day sell it at $55, on no news.
Like a boss.
Japan is now past their 2008 high. Now for 1989 Nikkei 39K. After all, the land under the imperial palace is worth more than all the real estate in California right?
Japan is highest since 2000
I added another round to E W V
Time to start snorting coco puffs and ordering hookers before Martin Armstrong ECM Wave goes red.. lol..
https://www.youtube.com/watch?v=xW1CrQu_H6E