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Momentum Monday…People Are Too Optimistic About Growth and Technology

By Ilene
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Momentum Monday…People Are Too Optimistic About Growth and Technology

Courtesy of Howard Lindzon
 

Yes I know…it is almost Wednesday in Italy where I am adventurecationing with my friends and bikes, so what good is a Momentum Monday now…

But, on Sunday night as always, I got together with Ivanhoff to do Momentum Monday and you can watch/listen to our thoughts about the markets and momentum. You can subscribe on YouTube here and not wait until I post on my blog.

My thinking has been and still is that bad things happen when stocks are below the 200-day moving average and more bad things happened today.

I discussed with Ivanhoff that people still are too eager to believe inflation is going to magically disappear. It seems like every bounce is getting chased. People are too optimistic about growth and technology. At some point, yes, inflation means stocks will be a reasonable hedge against inflation, but not at these valuations.

You can watch/listen and subscribe right here.

You do not need any extra links from me this week about stocks and markets…the market is doing all the talking right now and doing less when the markets are this vulnerable is the right thing to do.

Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. For full disclosures, click here.

As a reminder, Marketsmith (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from Marketsmith. Click this link to try it out.

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Here’s the youtube video: 

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Note: The material presented in this commentary is provided for informational purposes only and is based upon information that is considered to be reliable. However, neither PSW Investments, LLC d/b/a PhilStockWorld (PSW) nor its affiliates warrant its completeness, accuracy or adequacy and it should not be relied upon as such. Neither PSW nor its affiliates are responsible for any errors or omissions or for results obtained from the use of this information. Past performance, including the tracking of virtual trades and portfolios for educational purposes, is not necessarily indicative of future results. Neither Phil, Optrader, or anyone related to PSW is a registered financial adviser and they may hold positions in the stocks mentioned, which may change at any time without notice. Do not buy or sell based on anything that is written here, the risk of loss in trading is great.

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