Kill all the Economists…and Remember YahooBaba and BabaHoo?

Markets around the world are breaking out to major highs:

The FTSE in London

The DAX in Germany

The S&P in the USA

The Nikkei in Japan

The Nasdaq has closed higher for 11 straight days. The last time that happened was 1992. Those years ahead were good my friends:

ChOTD-2/25/15 #2) Nasdaq Composite 9 Straight Closes > Open 1992-2015 $QQQ $COMPQ

— Dana Lyons (@JLyonsFundMgmt) Feb. 25 at 05:11 AM

These ‘all-time highs’ are wonderful for people that own stocks and trend followers …like me. Apple, Nike, UnderArmor, Resmed are stocks of mine that are benefitting.

Money Manager polls show very large exposure to stocks (they are bullish).

Market ‘artists’ I respect (unfortunately anyone who looks at charts is called a technical analyst) are also very bullish.

Thank goodness for the economists who remain worried and downright negative. They are busy reading reams upon reams of bad data.

Basically we are here:

But that is not how markets work.

Remember Alibaba and Yahoo mania a few months ago?

For a while you had to own Yahoo to own Alibaba and than you had to own Alibaba/Jack Ma because they were the Amazon, Ebay, Apple, Facebook, Google and Warren Buffett of China.

Today, Yahoo is quickly back to 2014 prices as $BABA has shit the bed in the last few months:

Check out this beauty of a chart…YAHOOOOOO $YHOO

— Nic Lovelace (@nicl) Feb. 24 at 09:10 AM

The lesson here…

The markets are hard, but please don’t be an economist!