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:
— 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:
Every 'economist' is bearish and every 'technical analyst' is bullish. The market should do nothing for years starting today. $spy
— howardlindzon (@howardlindzon) February 25, 2015
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:
— Nic Lovelace (@nicl) Feb. 24 at 09:10 AM
The lesson here…
The markets are hard, but please don’t be an economist!