by Summary:
Stampede into Nvidia on good earnings then everything dropped. This market is highly speculative as I have been saying. 
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Mike Norman considers the following as important:
This could be interesting, too:
Stampede into Nvidia on good earnings then everything dropped. This market is highly speculative as I have been saying. 
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Waldmann writes What Chinese Invasion Fleet ?
NewDealdemocrat writes FHFA and Case Shiller repeat sales indexes show YoY price growth has peaked; slow deceleration in shelter CPI should continue
Bill Haskell writes Five Men at Atomic Ground Zero
Joel Eissenberg writes The COVID vaccines are really, really safe
| Stampede into Nvidia on good earnings then everything dropped. This market is highly speculative as I have been saying.  |
Maybe people selling stocks to be able to buy nvda at $1,050 per share.
I thought the same
China moving on Taiwan?
Yeah maybe.
Hi Mike, great update as always!! My take on the yesterday gain is that in order for the economy to grow at a faster rate, there needs to be some kind of net addition to the aggregate demand, when fed stop hiking rates and what we see now is that the economy is stabilizing at the 5.5 % based on the policy rate. When there is no net additional financial asset adding to the economy on top of the 5.5% interest payment as fiscal, this kind of daily bull runs are going to be always self-correcting because eventually higher demand will destroy prices because there is only so much money at work .
I don’t understand the concept of the tax drain u speak of. Do u have a vid or a simple explanation of the tax drain concept. Thanks 🙏
he says when the government has surpluses that money would otherwise be in the market making it go up.
Was Musk hyping Argentina a blowoff top there?
“various participants mentioned a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate.”
best guy in the biz. do you ever short mike, or just take cash off the table.
Thanks for the updates, Mike. I'm good with a pullback. You are right we need better prices to be buying. I don't want to buy at ATH.
MMT zombies 🧟♀️ sold prematurely (supposed to happen in mid June)
Great work as always Mike!!!
long run…you are spot on…short term movement is unknowable.
We gotta keep this channel going!
Thumbsup
We need a 10pct pull-back
Forward PE in 2018 when rates were 3 pct was 13 times now it's 22 times at 5.5 pct rates
Yesterday, you're comfortable, and today you're not comfortable. Hopefully, tomorrow u will be comfortable. 😊
What? I’m a casual listener and know that he’s been saying uncomfortable for at least days now, every single video.
👏👏
❤👁
Hi Mike,
Could you explain the significance of the Fed balance sheet going down. What does this mean in terms of MMT.
Thanks
How do you know who's buying into the market? ie that it's the 2023 doomers buying now? I'm guessing you're right I just am curious why you're so sure.
What's really interesting is it's a tale of two cities in the market, take out 10 or so of the biggest stocks and then check the earnings yield. The SP490 if you will. Investors are piling into the most high quality names leaving small and mid caps for dead, and half of the SP500 is objectively overvalued and half is probably fairly or maybe undevalued.
Ironically the profitable and growing top 10 stocks are pulling the overall earnings yield down because as good as they are, most of them are trading at PE multiples of 30-100.