That Wednesday buy the dip blast higher lasted all but one day. The Nasdaq keeps testing the 1300+- level but don't expect it to hold.
The Long View
Bear Market Volatility
Silver Medal Hoot of the Day Winner
Gold Medal Hoot of the Day Winner
Sorry, I forget to bookmark the Tweet. But someone commented along these lines: "Stay long. The bears are just trying to scare you out of your shares."
It's been a long time since I heard that explanation.
Hooray More Leveraged ETFs!
"Single-Stock ETFs on Amazon, Meta, Tesla and More Are Coming. Here's What We Know"
This reminds me of one of the things we all waited for in 2000: Leap options on JDSU.
ARKK Weekly Chart
That is what a real bear market looks like. The S&P has not even started yet.
There was no financial justification for that blowoff top, but there is a reason:
"The Fed goosed assets while Biden goosed spending. That's the lethal combination explaining what happened."
Biden's Lie of the Day
John Carney is referring to my post Biden's Lie of the Day: "Make No Mistake, Inflation is Largely the Fault of Putin"
We still have the CPI inflation even as the asset bubbles are crashing.
Bubbles Will Pop
If you think the Fed can fix decades of easy money and reckless Congressional spending while not remotely understanding inflation, you are only nuts.
As a result of these bubbles popping, expect a big deflationary crash. Then things will depend on how reckless the Fed and Congress get.
This post originated on MishTalk.Com.
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