Momentum Monday – Apple At All-Time Highs and Nasdaq 10,000 is Upon Us.

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Happy Monday.

As always, Ivanhoff and I did our weekly ‘Momentum Monday’ and toured the world of stocks and markets to let you look over our shoulders and see how we are seeing things. Here is this weeks show.

I walk through some ideas and the rare asset inflation story that is the Nasdaq 100 and certain brands.

Other quick thoughts…

Let’s begin with a reminder that it is frothy out there. When I say frothy, I mean that even I am getting used to stocks making 50 percent moves in a week. It feels like we are getting a bubble inside a recession.

Robinhood traders are having fun betting on airlines and dunking on Warren Buffett…while the dunking is what the media is focused on the BIG picture is how easy it is with Robinhood to be a contrarian to Warren Buffett and Wall Street. From Robinhood to European neobank and brokerage products, people can express themselves even with $100 pounds as contrarian to Warren Buffett in real time.

All that said, I DO NOT think Robinhood traders are driving the market. From watching the price action I believe it is the sloppy government buying of stocks to get prices to where they want to keep the narrative.

Not getting much fanfare is Apple which closed at all-time highs. This has the bears in a tither. The bull case (my case) is Apple is now a bank on top of a technology, retail and fashion company with Apple pay and new payment plans for their products.

While social media pounds on Facebook, Equifax – the analog evil, creepy, mailbox stuffing, data selling, credit controlling empire, baby Facebook is back at all time highs. Facebook while not at all-time highs closed at a monthly all-time high in May. I doubt the government or social media will chase off the buy the dippers over the next 10 plus years.

By the way…the Nasdaq is inches (2 percent) from 10,000. I started my Nasdaq 10,000 countdown in 2014 and am not surprised we got here. I did not think we would get here so quick after March, but the lack of financial media attention as it approaches is rather startling.

Have a great week.

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