Haven't seen this much bullishness since 1999. Most bears have thrown in the towell

And what better way to keep the momentum going but to keep on taking major name stocks and coming out with higher price targets on a daily basis.

This would place a market capitalization of over $1.6 trillion.

RBC ups price forecast on Amazon to $3,300, the highest target on Wall Street
 
S2007S said:
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
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If 10 year Treasury is @ .9% and 30 @ 1.6%, is SP 500 PE of 22 too expensive???

Not that long ago, economists talked about PE of 15 as average, but historical 30 yr bond average yielded were in the 6%-8% range. In that sense, today's PE is not high in comparison.

And QuickenLoan is quoting a 30 yr fixed of 2.75% APR 2.9%. Still remember paying >>10% 30 yr fixed mortgage not too long ago.

There is no benchmark or reference when I tried to look for historical guide.
 
The bottom line is at the present time it matters little wether in 6 months will the economy be back to precovid levels . In reality we have many problems in the 1-2 yr period ahead . But at the present time if 10 million traders believe they can buy xyzzy stock at $2 and sell it at $3 at the end of the day thats all that matters . Wether hertz is 10 cents in 2 months months means nothing today . I won't own it in 2 days much less 2 months . Can i jump on the elephant and catch a ride. Its all psychology .Now in 3 months we could be down 20% and the psychology has changed . Only the people who held and thats a lot will be hurt . Its all a game .
 
SteveM said:
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.
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They'll just cook the Q2 numbers like they did unemployment on Friday
 
CHK haaaa
Hertz haaaaaaaa
RCL haaaa
NkLA hahahha

Millenials having a party

I believe this is nothimg but huge fractional share buying with millenials just having fun fun fun trading stocks
 
S2007S said:
CHK haaaa
Hertz haaaaaaaa
RCL haaaa
NkLA hahahha

Millenials having a party

I believe this is nothimg but huge fractional share buying with millenials just having fun fun fun trading stocks
More...
Do they really have the buying power? I mean it's not billions. Though I suppose the institutions have to sell to someone
 
SanMiguel said:
Do they really have the buying power? I mean it's not billions. Though I suppose the institutions have to sell to someone
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No way robinhood blah blah accounts is moving this higher. Milliniels cmon man.
 
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