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.
It’s even more insane in the tech-heavy QQQ. The atmosphere makes 1999 look absolutely stoic.
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.
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.