‘Unambiguously’ Bullish Investors Not Contrarian Indicator. Yet

It's barely February and US equities are up 4% in 2024 already. Coming off a 25% gain in 2023. There's bubble talk. There always is. With the possible exception of 2009, I can't personally remember a year when somebody, somewhere wasn't convinced that US stocks constitute a bubble. Sometimes the catcalls have merit. Other times not so much. The trick is separating signal from noise in that regard, and I don't know of anyone who can perform that trick reliably. Which is why everyone's better se

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4 thoughts on “‘Unambiguously’ Bullish Investors Not Contrarian Indicator. Yet

  1. As the H-Man notes, timing is for fools and gamblers (perhaps one and the same). That being said with a 40%ish run up since New Year’s, maybe Nvidia’s earnings release rings the bell. All predictions wrong or your money back.

    1. I agree that NVDA earnings report on 2/21 will mark the likely top for a while as breadth continues to narrow with some profit taking in all that have already reported. I suspect heavy OTM call buying into NVDA’s report by the fast money traders, which will probably gamma squeeze NVDA shares past $700+, and then Wily E Coyote moment over the cliff.

  2. The US economy is kicking ass right now. TINA. God help us all if rich people get tired of watching the stock market go straight up and trade their fixed income for index funds.

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