The MSCI Momentum Index just rallied 11 days in a row, through Friday, making it the longest winning streak since 1992.
Back then, teenage Le Fly was busy drinking malted liquor, acting incredulous, sashaying (no homo) throughout his High School hallways in search for hedonism.
Today, I sit here talking to you fucking retards. It’s not fair, but it is what it is.
Gains in the MSCI index were buoyed by S, ADKS, BBY, VEEV and MU. Out of 125 stocks, just 14 declined.
We’ve entered into a market phase of ‘calm normality’, a tranquility not enjoyed since the wondrous days of 1928.
“This type of thematic has a history of unwinding in a violent manner,” Chad Morganlander, a money manager at Stifel, Nicolaus & Co. in Florham Park, New Jersey, said by phone. The firm oversees more than $220 billion. “This burst of momentum is being driven by searching for consistent growth. The herd is moving into that direction and valuations are toppy.”
Fuck you, Stifel.
The average PE for the MSCI is 30, which is roughly 39% higher than the S&P 500. While that might sound frightful, it’s also so delightful.
There’s a lot of idle chatter of markets being on the precipice of complete and utter disaster. With so many traders trapped in evil ETFs, implementing margin to boost gains, I can’t see any way this ends badly.
The post Momentum Stocks Have Just Completed Their Greatest Run Since 1992 appeared first on Trading with The Fly.
June 07, 2017 at 01:05AM
from Dr. Fly
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