Wow.... I said it. Maybe the top really is in for real this time.
Most of my article headlines are sarcastic.... "the Top is In" type headlines.
Those are the ones that draw the readers. Boring... stock prices to rise.. is blah blah blah boring.
Stock prices to crash... boom... Click mania.
Head over to seekingapha today.
Atop the 'trending analysis' articles is:
"the Most Dangerous stock market ever"
Hows that for market analysis?
This article comes from the same person who said in March 2020 at our COVID lows that the Central Banks can't save us this time.
Some people roll out of bed each day and no matter how sunny... they see clouds.
They see higher prices... and say... its unsustainable.
Shiller today out with a piece saying prices are uncomfortably high. As if stock prices were a heavy sweater on a summer day.
Sure prices are high... guess what else is high?
Guess what else is near record lows.
It is all relative.
Yet here we are....
and I mused even before the COVID recession... that the next recession would see stocks move HIGHER not lower.
We were hitting new record highs with countries in complete lockdown.
Why? because the response from the Central banks and gov't dwarfed the last recession.
We went from billions to trillions.
The lessons of the past have helped the Central Banks deal with the problems of the future.
You don't have to agree with the spending, the low interest rates, the forgiven loans, the bailouts, etc to realize that this market isn't going lower if the Central banks can help it.
We are going to get the tree shakes. We are going to get those two - three day out of no where corrections.
We are going to get more debt ceiling drama. Government shutdown threats. Overly indebted firms blowing up.
There will remain plenty of excuses to sell.
But at the end of the day those waking up and seeing sun, even on a cloudy day will continue to ride these uncomfortably high prices even higher.
Have a great weekend and a wonderful Friday.
Oh yes... and for those out there wondering....
It is going to end badly for all of us someday.... right?