Well, after nearly an hour of waiting for the Grok 4 livestream to start, I’m just going to compose my last post of the day and send it out, since the livestream is neither live nor streaming.
Simply stated, the market hasn’t gone down since April 21st. Hardly a downtick in sight. For obvious reasons, I am feeling this particularly acutely, and as of Wednesday’s close I was still at a whisper light commitment level of 73% (with one portfolio a vanishingly tiny 23% commitment level, which is just plain sad).
Yet if you look at an of the index charts below over the past three months, not only has the market done nothing but go up, but it has done so with increasingly smooth and predictable regularity. It’s a true bummer. Seriously.
During all of this, naturally, volatility has shrunk away to a quarter of its level early in April. Indeed, we have a 15-handle on the VIX for the first time since February!
Added to which, even the plodding CNN Fear/Green Index has slipped into EXTREME GREED for the first time in ages.
If the market wants to pour a bunch of salt on all these wounds, here’s what to do: plunge lower on Thursday morning. That’ll absolutely guarantee I lose my mind, once and for all.
