Google is looking to be the next stock to hit the $1 trillion club as the Nasdaq 100 closes above 10,000 for the first time in history. While the Fed’s statement today didn’t have much impact on big cap tech, it did push the S&P 500 lower on a volatile close to the session. The valuation of many stocks at this level is historically high, but the insistence of the Fed to drive share prices higher is typically bullish for gold and Wednesday’s rally into the close was representative of that.
Now here’s the rest of the news:
This Flood of Cash Is About to Propel Stocks Higher
(by C Scott Garlias)
An old saying I learned from my career on Wall Street…
It sticks with me because I’ve found it to be so true. It goes like this: “The market tends to do whatever inflicts the most pain on the most people.”
There are several different versions of this saying. But you get the idea. It means that whenever everyone is piled into the same idea, it typically goes against them.
That works for a simple reason. If everyone is on the same side of an idea, who’s left to keep buying?
You can think about it this way… If everyone is all-in on stocks, who’s left to push stocks higher?
- The answer is, probably no one. So the next wave of activity will probably be a drop in stocks.
Here’s the interesting thing… We’re dealing with the other side of that equation today.
Due to the coronavirus-related shelter-in-place orders, economies everywhere shut down. Nothing was happening. Investors got scared. They sold stocks and bonds, seeking the safety of cash instead.
Even during the recent rally, investors have kept selling in a big way. But that can’t last forever. And when it changes, a flood of cash from the sidelines will propel stocks even higher.
June 11, 2019
Good Morning All
Busy day as I’m fixin’ to sell my “Caddy”. I hope it goes to a good home as I just don’t have the inclination to hunt down the parts for it any longer!
I have a few people already interested it my old buddy! I’m working on a ‘Garage Sale’ idea that I’m hoping to complete in the nest 72_hours or so.
I just hooked up with LogoSportswear.com – Build Team Spirit with Customized Sportswear, Quick, Easy, Fun! – Click here! and will be promoting their product on this sight and others.
Your feedback would be great!
Until later, thanks all.
June 11, 2017
The worst failure is the failure to try. Failure can become a weight or it can give you wings.
The heroes in Horatio Alger’s stories demonstrate that you can’t avoid setbacks and disappointments. As Robert F. Kennedy said, “Only those who dare to fail greatly can ever achieve greatly.”
“Make your stumbling blocks your stepping stones.” –Harvey Mackay