I have no idea who that guy Chaikin is - an experienced market technician for a couple of decades - but he discusses the following.
Small update: that stock market technician speaking in the podcats is the guy who invented the Chaikin technical oscilator; so for sure he knows a few things about the technical analysis.
- TESLA enters S&P 500 Index later this month so that excites everybody. Of course those who are not very excited are stupid (not joining the bubble)
- How Elon is making fun of short sellers by selling pants on TESLA web site
- COVID-19 impact on markets is not an issue because central banks are pumping money into the bubble like crazy
- This is not like the 1999 stock market bubble, only a small correction in S&P 500 towards 2800 points than up we go
- All those money will go into mega-cap stocks (Microsoft, Alphabet, Apple & the likes)
- Coming earnings season will be ugly but that is not a problem either
- Why these names are getting this kind of crazy push? A lot of bullshit coming out of the podcast, but the main argument is "momentum trading". There you have it!
Chuck Prince on Monday dismissed fears that the music was about to stop for the cheap credit-fuelled buy-out boom, saying Citigroup was “still dancing”.
The Citigroup chief executive told the Financial Times that the party would end at some point but there was so much liquidity it would not be disrupted by the turmoil in the US subprime mortgage market.
Here are some of those charts mentioned in the podcast: Microsoft, Apple, NVIDIA
What's amazing about the recommendations these guys are making is after these stocks have ran up 400% or so; I wonder how these stocks will do in the next 3 to 5 years. Can they quadruple again from here? Of course! Remember, some of these stocks - Apple - are more than 1$ trillion market cap!
Speculate with a smile!
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