From May 27th through June 8th, the market was absolutely stuck in the muck. Tick after tick, hour after hour, and day after day, the market just kept grinding away, driving bulls and bears equally mad. Until, of course, that glorious June 9th and June 10th plunge, followed by a few more days of bear domination, all of which sadly terminated on June 16th, which feels like about nine years ago.
The exact same thing has been happening lately, in exactly the same place.
Looking more closely, you can see this agonizing absurdity. The market explodes higher, thanks to the numb-nuts, nit-wits, and ne’er-do-wells, and then it plunges, thanks to, ya know, reality. It’s absolutely vomit-inducing.
The small caps have been making a better go of it, banging out a successive series of higher highs. Obviously I hope we all see the end of this nonsense in very short order.
On top of having a good Tuesday (and thank you, IYR, for finally moving the right direction) I see some after hours action that should be positive for me. In particularly, AMD……….
………and, even better, Prudential (PRU):
I am pretty much fully invested at this point and have nothing but January 2023 puts.
