This is what the stock market thinks.
MMM Worst Day in Nine Years
Beat the Street
Market Dives on "Votes of Confidence"
"As good as it gets" likely applies to technology, housing, and cars as well.
One Word: Sell.
Mike "Mish" Shedlock
I think I'll just hold tight and keep the DRIP going for another decade or so. But then, I'm not a day trader jumping in and out with the momo changes. So if stocks are a SELL, Treasuries are due to crater, munis are teetering on bankruptcy and cryptos are only for fools, what's left? Metals? A fool and his money indeed. I'll take a diversified portfolio that includes all of the above, and will try to resist the temptation to invoke that one word on any given down day. Steady as she goes.
This is what happens when higher interest rates and dwindling liquidity confront an over-valued (egregiously) stock market.
"Buy on the rumor, sell on the news" on steroids .The slow "melt ups" that have characterized the market for many years has been replaced by apoplectic swings. Maybe a belated taper tantrum .
Klausmkl At least Mish doesn’t make foolish spelling errors. You really ought to check out Proverbs 17:28 “Even a fool is thought to be wise if he can learn to keep his mouth shut!”