Worst. WW3. Ever.
lifetime highs all around
There are a couple of uncomfortable truths I recognize: one, this website is more popular when the market is down, and two, there is no guarantee anywhere that the market will ever fall again in a meaningful way. None.
As far as we know, the market will go up double digits every year for the next fifty years. It isn't impossible, and considering how the market is shrugging off ALL bad news lately, it seems like almost a foregone conclusion.
Having said that, here is just a sampling of where the cash indexes stand, which is basically a few microns under lifetime highs. Quite a few ETFs are already there (having benefited from dividend adjustments), and in the case of the NASDAQ 100 index, its high today was literally 99.999% of the lifetime high from February 19th. Very close, but no cigar!
As if the bulls needed any more help, the semiconductor index has clearly broken away from its descending channel.
It's comic, in a gallows humor kind of way, just how certain it seemed a few days ago that we were headed for a protracted conflict and perhaps even a massive drop in equities. In no time flat, though, equities are ripping to never-seen-before levels, and the VIX has been bloodied back to the pathetic mid-teens.
Some may think the bear markets are an imagined fiction, but having been involved in trading since 1987, I want to assure you that there was a time, long, long ago, when markets were actually allowed to fall for more than a few hours. I offer you Exhibit A, which I created in 2008 from PropheCharts, as testimony to this point.
There are a couple of uncomfortable truths I recognize: one, this website is more popular when the market is down, and two, there is no guarantee anywhere that the market will ever fall again in a meaningful way. None.
As far as we know, the market will go up double digits every year for the next fifty years. It isn't impossible, and considering how the market is shrugging off ALL bad news lately, it seems like almost a foregone conclusion.
Having said that, here is just a sampling of where the cash indexes stand, which is basically a few microns under lifetime highs. Quite a few ETFs are already there (having benefited from dividend adjustments), and in the case of the NASDAQ 100 index, its high today was literally 99.999% of the lifetime high from February 19th. Very close, but no cigar!
As if the bulls needed any more help, the semiconductor index has clearly broken away from its descending channel.
It's comic, in a gallows humor kind of way, just how certain it seemed a few days ago that we were headed for a protracted conflict and perhaps even a massive drop in equities. In no time flat, though, equities are ripping to never-seen-before levels, and the VIX has been bloodied back to the pathetic mid-teens.
Some may think the bear markets are an imagined fiction, but having been involved in trading since 1987, I want to assure you that there was a time, long, long ago, when markets were actually allowed to fall for more than a few hours. I offer you Exhibit A, which I created in 2008 from PropheCharts, as testimony to this point.
There are a couple of uncomfortable truths I recognize: one, this website is more popular when the market is down, and two, there is no guarantee anywhere that the market will ever fall again in a meaningful way. None.
As far as we know, the market will go up double digits every year for the next fifty years. It isn't impossible, and considering how the market is shrugging off ALL bad news lately, it seems like almost a foregone conclusion.
Having said that, here is just a sampling of where the cash indexes stand, which is basically a few microns under lifetime highs. Quite a few ETFs are already there (having benefited from dividend adjustments), and in the case of the NASDAQ 100 index, its high today was literally 99.999% of the lifetime high from February 19th. Very close, but no cigar!
As if the bulls needed any more help, the semiconductor index has clearly broken away from its descending channel.
It's comic, in a gallows humor kind of way, just how certain it seemed a few days ago that we were headed for a protracted conflict and perhaps even a massive drop in equities. In no time flat, though, equities are ripping to never-seen-before levels, and the VIX has been bloodied back to the pathetic mid-teens.
Some may think the bear markets are an imagined fiction, but having been involved in trading since 1987, I want to assure you that there was a time, long, long ago, when markets were actually allowed to fall for more than a few hours. I offer you Exhibit A, which I created in 2008 from PropheCharts, as testimony to this point.
The GFC was a cleaning event for the eldest of the Baby Boomers. What happens next takes care of the rest of us. I paid my tuition during the dot com bust. Never again.
And gold goes to $50K and Silver goes to $800. A pack of chewing gum is $30. The average income goes up 20%. Nice.