The MSCI Momentum Index just rallied 11 days in a row, through Friday, making it the longest winning streak since 1992.
Back then, teenage Le Fly was busy drinking malted liquor, acting incredulous, sashaying (no homo) throughout his High School hallways in search for hedonism.
Today, I sit here talking to you fucking retards. It’s not fair, but it is what it is.
Gains in the MSCI index were buoyed by S, ADKS, BBY, VEEV and MU. Out of 125 stocks, just 14 declined.
We’ve entered into a market phase of ‘calm normality’, a tranquility not enjoyed since the wondrous days of 1928.
“This type of thematic has a history of unwinding in a violent manner,” Chad Morganlander, a money manager at Stifel, Nicolaus & Co. in Florham Park, New Jersey, said by phone. The firm oversees more than $220 billion. “This burst of momentum is being driven by searching for consistent growth. The herd is moving into that direction and valuations are toppy.”
Fuck you, Stifel.
The average PE for the MSCI is 30, which is roughly 39% higher than the S&P 500. While that might sound frightful, it’s also so delightful.
There’s a lot of idle chatter of markets being on the precipice of complete and utter disaster. With so many traders trapped in evil ETFs, implementing margin to boost gains, I can’t see any way this ends badly.
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For some since 2009, this has been the greatest market of a lifetime. Creating more millionaires than ever before.
For others, it’s business as usual and they just got their 401ks back to the level it was before the crash.
The rich get richer, the poor get poorer.
When the revolution comes and it will… I hope iBC will be using 2-Factor Authentication!!
Yes, of course eventually all the naysayers will be right and this bull market will suffer a big drop/correction. But this also reminds me of that Peter Lynch quote:
“Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.”
2008 has left many investors with PTSD, and many folks keep expecting and predicting it will come (especially those who want bad news to hurt Trump and help flip political seats). It may take another ten years for 2008 to fade from memory.
The impeachment Bears are running out of ammo:
From ABC news this afternoon, “Exclusive: Comey will stop short of saying Trump obstructed justice in Flynn probe, source says”
http://abcnews.go.com/Politics/exclusive-comey-stop-short-trump-obstructed-justice-flynn/story?id=47865739