Today will close out the first half of the year and the 500 is headed for the best gain in 5 years. Nasdaq also on fire has gained a phenomenal 30%! Despite some headwinds the market continues to show resilience.
Unbelievable run. And with aggressive rate hikes. Not the way it's supposed to work, but here we are.That's why it's so damn hard to time the market. Sure wouldn't have predicted this on October 2022. "Everyone" was saying to sell, cash out and sit on the sidelines. "Everyone " was way wrong. You gotta have big chingaderas to be in this game. Either few saw this run coming or there was a manipulation move going on steal the common folks money. More money has been lost trying to anticipate corrections than by the corrections themselves. Those of us that took the contrarian view and stayed at the table can celebrate. A lot of optimism about the economy on Wall Street right now. I sold some Tesla and Wmt last week. Just some profit taking , im still in. The Fed flooded the financial markets with cash to avoid the bank crisis that never was.
Cheers. Fuck yeah. Thanks for the post.
Edit: This bull run looks sustainable as long as the Fed doesn't surprise with higher than expected rate hikes.
Short sellers lost $120 billion in the first half of 2023. $72 b in June alone. I would call that a trip to the rear of the woodshed for sure. Pessimism is not being rewarded. Tesla and Nvidia crushed the short positions. Decimated them. A mistake by the Fed is the biggest risk to this party. Key Inflation markers say inflation is at a 2 year low right now. Unemployment keeps dropping. Don't fuck this up now Mr Powell, keep the Fentanyl free powder coming.
Edit: The party is fun, rehab sucks. and if you party you will end up in rehab at some point. 4% CD's never send you to rehab but fuck that. Addicted to adrenaline.
Unbelievable run. And with aggressive rate hikes. Not the way it's supposed to work, but here we are.That's why it's so damn hard to time the market. Sure wouldn't have predicted this on October 2022. "Everyone" was saying to sell, cash out and sit on the sidelines. "Everyone " was way wrong. You gotta have big chingaderas to be in this game. Either few saw this run coming or there was a manipulation move going on steal the common folks money. More money has been lost trying to anticipate corrections than by the corrections themselves. Those of us that took the contrarian view and stayed at the table can celebrate. A lot of optimism about the economy on Wall Street right now. I sold some Tesla and Wmt last week. Just some profit taking , im still in. The Fed flooded the financial markets with cash to avoid the bank crisis that never was.
Cheers. Fuck yeah. Thanks for the post.
Edit: This bull run looks sustainable as long as the Fed doesn't surprise with higher than expected rate hikes.