Originally Posted by
Krugminator2
I can't get them all wrong. The Fed said they were buying infinite bonds which is bullish for stocks.
It makes no sense for the market to keep going up at this point but people are so bearish that it probably doesn't rollover. not sure how much higher it can go though.
I would use Shopify as a leading indicator for when to turn bearish or be bullish. When that gets heavy and starts dropping that will probably be a sign the market is heavy. If it somehow makes new highs probably means the market is headed up. You have a stock trading at higher multiples than Microsoft and Amazon sold at during the height of the dot com bubble. Insiders sold $125 million worth of stock earlier this year at much lower prices yet it is trading at $633 up from an IPO around $30 a few years ago. Shopify is fundamentally hot trash and will be trading 50% lower over the next few years. But when the market wants up, it wants up.
My longer term view still hasn't changed that the floor will fall out again but the coordinated orchestration of the markets recently is impressive, I gotta say. Today a negative 4.8% GDP print was front-run by moments by another fake news remdisiv-whatever drug headline. The algos shot right past the GDP print without a twitch. Also timing up the Fed's announcement shortly on the same day also, where Powell will probably promise more infinite printing for Wall St. GDP crash, what GDP crash? It's quite a sight to see how the actual economy is imploding in fast fashion while markets march right back up to where they were before this all started.
Having said that, I have a close eye on this friday, May 1. May 1 is an important "sacrifice" holiday, Beltaine, for those that run this whole illusion. Maybe a "bull" will be sacrificed.....better that than real people.
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