He's right, think about if the s$p continues the massive run it would double to 6000, what kind of earnings could possibly warrant such a meltup?
The stock market is having a sugar high that could lead to a massive hangover, market watcher warns Keris Lahiff | @kerisalison
Published 3 Hours Ago
No matter the market conditions, Schlossberg says it's unlikely that the S&P 500 can sustain the pace of gains. If the index were to continue at this pace, it would double in value by year's end, he said.
"If you sort of project just in perpetuity what's been going on for the last 10, 15, 20 days … the valuation becomes absolutely ridiculous," said Schlossberg. "We're going to stall for whatever reason."
Wilbur Ross just came out at Davos and said China's 2025 technology ambitions are a "direct threat to the United States." Market not liking that message.