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Wall Street’s Narrow Bull Run Creates ‘Unprecedented’ Juxtaposition
Congratulations: You're witnessing history.
I hesitate to employ such a vacuous phrase. You're always witnessing "history." Every day's "history."
Let me stop before I veer off into some pseudo-philosophical tangent.
The narrow market dynamic that dominates each and every discussion about the never-ending melt-up in US equities has now achieved a milestone of sorts. According to Nomura's Charlie McElligott, the "negative breadth" streak through December 16 had virtually no precedent, particul
Soon, I plan to sell the portion of my Avgo position that is held in my non-taxable account.
Quite a few of those stocks have RSI’s over 80. They can stay that way for a while, but if Jay is hawkish tomorrow, picking up some QQQ puts before he speaks wouldn’t be the worst idea in the world.
I wrote about much of this in a rather lengthy text to a couple of friends of mine last night. I am glad to see that I was not too far off in what I was seeing. Of course the big question now is what happens next? It is certainly starting to feel like a correction is due. Shades of December 2018 maybe?