Some stocks are acting like Covid-19 never even happened. It’s quite extraordinary. And, considering the $6 trillion that Powell is throwing at equities to save them, perhaps it’s not surprise. Here, for instance, is Amazon, higher than any point in human history:
Netflix isn’t at a lifetime high, but it’s awfully close, and its breakout this morning is clear:
Everyone is chattering about the “V-shaped recovery“; if you want to see this in action (upside-down) take a look at QID, which is the ultra-short on the NASDAQ. This bearish instrument is at the lowest price ever.
