The Glitch is Gone…Bring On The National Emergency

We went from a stock market ‘glitch’ in December to a National Emergency in February.

All the while, the S&P has moved about 40 percent to be in the same place.

This turbulence has definitely shaken out some weak hands in the stock market.

On the eve of this national emergency I checked the all-time high list to see what investors are clamoring for. Here is a list of the largest companies on that list.

Starbucks
Autozone
Waste Management
Union Pacific
Salesforce

One thing not working is FAANG (Facebook, Apple, Amazon, Netflix and Google).

Warren Buffett has been selling some Apple and Amazon walked away from a New York headquarters.

I remember the ‘pundits’ saying the markets would crater without FAANG leadership and Jamie Dimon saying Bitcoin/Crypto was a fraud.

All of this nonsense is really just a reminder to turn off your television, spend more time looking around you not down at your phone, and as always punch a banker.

If the railroads like Union Pacific can be at all-time highs 140 years after their initial bubble, imagine where the modern railroads (internet leadership) will be in 140 years.

FAANG in some form or another will be back real soon. They are resting and licking some wounds but their spending will pay dividends .

In America it pays to be bullish 80 percent of the time. Nasdaq 10,000 here we come.