$NASDAQ(.IXIC)$ $Invesco QQQ Trust-ETF(QQQ)$ $Nasdaq100 Bear 3X ETF(SQQQ)$ $Nasdaq100 Bull 3X ETF(TQQQ)$
Make no mistake, the US market is a complete joke. We need a normalized rate environment for all the right reasons to ensure long-term economic success - proper cost to debt, tame inflation, keep equity valuations in check, provide balanced portfolios and reasonable fixed income return for pensions and retirees, etc. - so the rising rates are not only working as they should, but also appropriate and necessary.
However, the US equity market is another matter. Now back to within a stone's throw of all-time highs, with a Mkt Cap/GDP ratio still at 158%, and Shiller PE sitting at 29.9 - all created through excess money supply and endless QE/zero-rate policy. But despite all those reasons that pushed equities to absurd heights now being unwound through the new QT normalized rate environment, and bonds now offering a very good alternative, the market puppets (or WS manipulators) keep trying to push the market higher.
And regardless of the economy, earnings, and consumerism all showing signs of slowing, WS pumpers are now running the narrative that the Fed is not only pausing, but already placing bets that they will start cutting as early as March 2024...meanwhile, telling retail this is a good reason to continue buying equities. It is literally watching the Fox guard the hen house. I make good money on both sides of the trade, but it is no longer a fundamentally valued market environment, instead just another House of Cards for those of us who have been through 2000 and 2008.
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