As the markets around the world romp to new highs everyday, CNBC ratings are the lowest in 26 years. Fox News can and will brag relentlessly about beating CNBC, but their audience that is ‘tuned in’ to Lou Dobbs is not in front of their TV’s. They are in the bathroom tending to their prostates.
Before I get into the momentum ‘miracle’ that continues in the global markets…
The sun continues to shine on me in Manhattan. Another perfect day for walking and getting to meetings.
Today I had two major celebrity sightings.
I was working with my trainer in SOHO (boxing if you can believe it) and in walked Jonah Hill with his trainer. Jonah must have lost 200 pounds since War Dogs and I had to quadruple take which of course made me seem like a stalker. I left him alone after I blew it with my creepy stare. He has chicken legs so I am glad he has lost all that weight.
I have run into Jonah before. Years ago I went to see Book of Mormon. I was by myself. I was standing behind Jonah in line and did not get the nerve to say hello. I grabbed my licorice and went to sit and of course my seat was right next to his. He was with his girlfriend I assume and I must have scared him because before I could say hello he switched seats with her.
On my walk home to shower I was walking through Washington Square park and walked by Michael Shannon the great actor from Boardwalk Empire. He was sitting alone. I stopped and decided to ask him his opinion on Bitcoin.
Ok…I chickened out, but in my old Wallstrip days that would have happened.
Now to the momentum…
The setups and all-time highs just keep coming.
I made this Momentum Monday #MomoMonday with Ivanhoff the other day and forgot to share it so here you go (about 20 minutes). We tour the markets for momentum and share some fresh ideas.
It might be easier to discuss the markets by saying the only stock NOT working is Chipotles. Yes, it’s almost been that good. Actually Foot Locker and Fossil have been the worst stocks in the S&P this year.
Let the TV commentators blabber about why, but the data shows global synchronized growth:
The all-time high list today is thick…from JP Morgan to Trucking to Home Depot.
Egypt is at new highs. Yes Egypt.
The froth seems contained to crypto and tokens for now.
I am getting pitched a crypto fund every 68 seconds the last few days. I’m not sure what that means other than that too many people have my phone number.
Here is an ICO or a strip club if you need to speculate with a bunch of $1 bills or satoshis.
I doubt we’ve seen a top in crypto personally as Goldman is just starting to get excited about trading it and Lloyd Blankenfein is now tweeting that he is constantly thinking about it.
If you are worried about a market crash, you are alone or only read Business Insider. Not that there is anything wrong with that.
Also published on Medium.