At this point, we might as well just start pulling projections from thin air. Dow Industrials? How about a 50,000 target. Or 100,000, for that matter. NASDAQ? I dunno, 20,000? With new lifetime highs every day, and 99.999999% of the “investing” public utterly thrilled, anything is possible.
![spy](https://slopeofhope.com/wp-content/uploads/2020/02/spy-640x388.png)
It’s even more insane in the tech-heavy QQQ. The atmosphere makes 1999 look absolutely stoic.
![qqq](https://slopeofhope.com/wp-content/uploads/2020/02/qqq-640x782.png)
Fears about the virus and a stumbling equity market feel like they are already years in the past, even though it was just two weeks ago. The VIX, which had been sub-teens, pushed up to just about 20, but, once again, has slumped into its wretched old ways.
![vix](https://slopeofhope.com/wp-content/uploads/2020/02/vix-640x939.png)
I used to mention that our current POTUS didn’t have a dog, which was extremely unusual. But I was wrong. He does have a lapdog, and a terribly servile one. Woof.
![](https://s.marketwatch.com/public/resources/images/MW-HO840_fed_ZH_20190805141546.jpg)