After a couple of days of modest weakness, it’s no shocker to see a little green this morning. With decades of conditioning, humans are going to be “buying on the dip” at any opportunity, never know when it’s already too late. The world is going to be completely obsessed with NVDA for the foreseeable future, although I am confident the same thing is going to happen to them as happened to Cisco – – in a couple of years, no one will care about them. Not even a little.
The /RTY keeps trying to make headway (red circles) but gets smacked down every time. There are staggering forces holding the market up: endless government support, falsified economic data based on an administration that wants to stay in power, and empty-headed optimism on the part of the investing public. We are so, so, SO overvalued now, I cannot even imagine the devastation that will take place when the next honest-to-God bear market happens. Keep in mind, the bear market has been dead for two years now (I consider its bottom to be June 16 2022, in spite of a nominally lower price that October), and even that bear market only lasted for a few months.
One random stock I stumbled upon is WVE, which is a medical biotech that evidently got some good news this morning from their lab trials. It’s interesting to see that, within just minutes, the stock almost doubled and then actually wind up in the red. I’ve never even heard of this stock before, but somewhere out there, there’s a few folks on a emotional roller coaster.
Anyway, the market is pretty boring at the moment. Hopefully something will wiggle later that’ll give me something to write about.
