Lots of people expecting an undercut of the February low (including me). That makes me wonder if we didn’t already print the low on Friday.
I’m laughing my ass off at all the perma bears that were calling for a crash today. There were literally hundreds of youtube videos this weekend calling for a monster gap down this morning, many looking for an 87 crash.
We may not be completely out of the woods yet, but this isn’t the start of a bear market.
10,000 is going to be a piece of cake. 20,000 is going to be a piece of cake as I now think the long term bull scenario is the more likely path ahead and the bull still has 10-15 years to go. My original thought was that the market was ready to begin a parabolic move higher, but I said I could be wrong and instead this is a long term bull with many years yet to go. It’s starting to look like Chris was right, and the long term bull is the correct scenario.
In the end it isn’t about money printing, interest rates, who’s president, stock buy backs, PE ratio’s, etc. etc.
It’s about whether a new technological advance is driving the bull, or low interest rates and money printing.
I would argue that the 2002-2007 bull was driven by low interest rates and money printing, thus not sustainable.
Since 2009 I’m seeing very interesting developments in transportation, renewable energy, bio & nano technology, and robotics. I think this bull market is sustainable and being driven by the correct fundamentals.
All activity will now only be on the premium website.
From now on I won’t be doing anymore videos on the blog. Maybe sporadically every once in a while but only rarely. Videos and charts of the day will be reserved for the premium website only.
I will open a new forum everyday where traders can discuss the markets.
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