Introducing the New Normal

By -

I wanted to use one stock – — Marriott – – to illustrate how the market has gone utterly and totally into la-la land. In the circle area, you see a normal market. It has ups and downs. It has volatility. It is dynamic and provides opportunities in both directions.

For the past year, however, a lot of stocks look like the straight red line I’ve drawn. This is, once again, a STRAIGHT line, and the bars fit so rigidly underneath it you can barely even see them. I have been looking at charts for many decades, people, and I swear to God, I’ve never seen anything like this in my entire life.