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.
Thanks, and you make a great point in regards to timing the market. People tend to lose out on bigger gains by selling too soon.
Something that really caught my attention are the speculators that were taken to the woodshed have pretty much thrown in the towel. Margin debt has declined over 35% the past year, and as a percentage of total equity, margin debt has reached its lowest level in 20 years. Short interest by the small investor is at a 35 year high. Talk about extreme pessimism.
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.