I haven't seen this much giddiness and excitement since 1999. People on the street are talking about trading by far the most since 99 . I'm seeing 3600 targets like nothing happened .Hard to see much of a drop here unless another major shock hits . After an almost 50% run the bullishness is mind numbing .
Haven't seen this much bullishness since 1999. Most bears have thrown in the towell
- Thread starter hafez50
- Start date
He might be forced into capitulating too.
Story over the weekend about "Hedgies (who had been negative/skeptical) Tossed In The Towel and (forced to?) Chased".
"Overbelief in the Fed"... likely the final straw that breaks the camel's back... but it may be from much higher than we can imagine right now.
Suggest not being too aggressive about fading this bullish sentiment just yet.
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I went 50% to cash on Friday. Still have 50% in stocks, so I'm not hiding under the bed here.
I do think that stocks are pricing in a rapid recovery, and I really doubt that is going to happen. Also think these some of these Q2 earnings reports might be shockingly bad, and believe that there still will be plenty of announcements of capital raises, buyback terminations and dividend cuts ahead of us.
I'm still long stocks, but an S&P 500 4% below all-time human history highs simply isn't compensating investors for the uncertainties that lies ahead of us in coming months.....just my opinion.
I do think that stocks are pricing in a rapid recovery, and I really doubt that is going to happen. Also think these some of these Q2 earnings reports might be shockingly bad, and believe that there still will be plenty of announcements of capital raises, buyback terminations and dividend cuts ahead of us.
I'm still long stocks, but an S&P 500 4% below all-time human history highs simply isn't compensating investors for the uncertainties that lies ahead of us in coming months.....just my opinion.
I agree. It's insane how many ppl ive talked to who just started getting in.
Stocks have not been this expensive in 19 years —
Johnson said the Fed’s stimulus has put a floor beneath the S&P 500 that it should continue to build on. With the index being back above its 200-day moving average and headed to former highs, that’s proof the market is “discounting this economic recovery” and “looking forward,” according to Johnson.
“I see a market that’s going to continue to push ahead. I think by year-end, we’re going to get to 3,600 on the S&P 500. That is an objective that we’ve had since December of last year and we reiterated at the March lows,” said Johnson.
Johnson’s target implies 13% further upside on the S&P 500.
https://www.cnbc.com/2020/06/08/stock-market-today-sp-500-reaches-highest-pe-since-mid-2001.html
Johnson said the Fed’s stimulus has put a floor beneath the S&P 500 that it should continue to build on. With the index being back above its 200-day moving average and headed to former highs, that’s proof the market is “discounting this economic recovery” and “looking forward,” according to Johnson.
“I see a market that’s going to continue to push ahead. I think by year-end, we’re going to get to 3,600 on the S&P 500. That is an objective that we’ve had since December of last year and we reiterated at the March lows,” said Johnson.
Johnson’s target implies 13% further upside on the S&P 500.
https://www.cnbc.com/2020/06/08/stock-market-today-sp-500-reaches-highest-pe-since-mid-2001.html
Markets can get to the point where they rationalize, "to the moon". Sensible players should not be too aggressive about fading that psycho.
Let's not forget, "Market can remain irrational longer than you can remain solvent".
How many 1% a day rallies do you believe is possible. At the rate markets are moving the s$p could be over 4000 by summer and nearly 6000 by Christmas. Again this is nothing but fear of missing out..i always find it amazing how a stock like apple were hated at 268 but loved at 330 or oil extremely disregarded and no one wanting a barrel of oil at mimussssssss -37 dollars but all over it now at $35-40 thinking it goes to 100!!!! I mean the way investor psychology changes is absolutely fascinating.