Momentum Monday…People Are Too Optimistic About Growth and Technology
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Yes I know…it is almost Wednesday in Italy where I am adventurecationing with my friends and bikes, so what good is a Momentum Monday now…
But, on Sunday night as always, I got together with Ivanhoff to do Momentum Monday and you can watch/listen to our thoughts about the markets and momentum. You can subscribe on YouTube here and not wait until I post on my blog.
My thinking has been and still is that bad things happen when stocks are below the 200-day moving average and more bad things happened today.
I discussed with Ivanhoff that people still are too eager to believe inflation is going to magically disappear. It seems like every bounce is getting chased. People are too optimistic about growth and technology. At some point, yes, inflation means stocks will be a reasonable hedge against inflation, but not at these valuations.
You do not need any extra links from me this week about stocks and markets…the market is doing all the talking right now and doing less when the markets are this vulnerable is the right thing to do.
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