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AN EXCERPT:
I can understand how the “Royal Scam” and the eternal stimulus works. What I can’t quite figure out in relation to the stock market is where the sellers are. I’ve said long ago that those who had to sell were forced to do so in the two market crashes. But now that the markets have come all the way back to where they were before the crash, I would have expected supply to have an effect. After all, there is most certainly supply at current levels but everyone is now scared to sell for fear of missing out on more upside. It all looks very similar but inverse to February 2009.
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I’ve been askign this for weeks. With outflows and insider selling the way it is I can’t figure out why there is literally no selling pressure whatsoever. All I can think of is that everyone is all in feels entitled to 1300 or higher on the SPX. Something is goign to have to happen to change this way of thinking and cause someone to sell.
I’ve sold. I am scared.
My 401k is now sitting in a puny money market fund languishing. I’ve already missed out on 4%.
I also sold at the top (13,600) and bought back in at the bottom (7,800).
I have a feeling my luck might have run out this time. However, it did also hurt when i sold at 13.6k as it ran up to 14.1. Hurt bad.
However, this doesn’t feel like 2007. Feels like the market is going much higher and ima miss out.
More supply will come above 1220 Scotty. 1220-1300 was the broad topping range in 2008 before the crash.