This may be the least viewed post I'll ever write. Boring Market Update? I'd be fired on the spot if I was a writer for a financial news network.
Boring market update? Most would prefer headlines like:
"stock market carnage set to continue"
"stocks most overvalued since (plug any date in here where stocks have previously topped)"
"mysterious call buyers create massive stock market rally"
"five reasons why this market is ready to plummet"
"stocks setting up for a 60% pull back..."
Boring headlines don't sell. Calling for impending stock market doom every day, despite being wrong nearly everyday, in a bull market gets you more twitter followers than calling for more upside...
Fear sells.. and boring... well... not so much.
With that I will begrudgingly carry on with this least read post. **yawn*
My longer term view still holds true.
The massive expansion of money supply will eventually leak out into the real world sparking that long awaited inflation.... at least according to government statistics.
Short term... as in today and into weeks end... momentum remains for more healing of the recent tech wreck.
The S&P500 is sitting with some position momentum over the medium term and short term, as in this morning we have a nice momentum upside trigger.
Upside is boring.
Perhaps if I said the upside was going to come from massive call buying from some unknown stock market whale... that would open up your eyes.
Ironically the Financial Times is already trying to back track a bit from saying that one big whale... Softbank. was responsible for all the recent tech upside.
It was everyone... not one firm.. not one whale.. That is like blaming the flash crash years ago on one firm... which they did of course...
This was everyone buying calls. And why not... stocks were going up every day. Why buy puts in a market trending higher and making record highs day after day after day?
Upside is BORING....
and with that... if you haven't fallen asleep yet... I am concluding the most boring post ever written....