Tue, 16 January 2018
The Stock market gapped up to nearly 26,000 today and briefly spiked above it before retreating. As of this writing, we're resting near yesterdays close.
It's a bad sign (when the market gaps and retreats like that). It's a signal a retracement is coming.
More and more people are starting to sound warning bells about the euphoria in the market, but nobody wants to miss the upside.
If you need an example of this, you can look at bitcoin. I don't like it as an investment due to the high volatility, but my warnings of an impending disaster have been met with an explosion in the price of the aspiring currency.
If you're a fund manager, you can't afford to be out of this market even if you think the wheels are coming off because if you're early, even by a little, you'll miss earnings and your investors will bail.
It's a big problem on Wallstreet. Nobody wants to be the first one out. Everyone rides the wave until the recession hits and when the dive happens, you just hope you lose a little less than everyone else.
I've always said no one cares more about your money than you do and if you want to really control your financial destiny, you need to understand what is happening with your investments.
There's a lot of different concerns when it comes to tariffs, but I thought I'd spend a little time discussing the issue in detail.
Register to attend the San Diego Libertarian Party Convention next week where I'll be keynoting. https://sdlp.org/convention