With 15% gains in the major stock indices (Nasdaq 28%) stocks are on pace for their 4th best year since 1999. Precursors of accelerating economic growth abound in 2017, reflective of the rebounding earnings and future expectations. The stubbornly sluggish US GDP continues to hover near its 2.1% post mortgage…
How rare is a year without corrections of more than 3% ? 1995 was the last period of incredibly persistent optimism without a hiccup in price to afford a paltry decline beyond 3%. Most consider a pullback of 5 to 10% to be modest and a normal expectation at least…
A persistent theme this year has been stocks surging to record highs during each quarterly earnings cycle. The first three quarters of 2017 earnings have seen a series of 6 week explosions to the upside: February, April/May and July. In fact, removing these three 6 week surges would leave the stock…
Markets love to climb a wall of worry. Kim detonates a nuke or fires an ICBM and stocks fall for a day before heading back to record highs. Two monster hurricanes damage the US economy and stocks fall for a day and then immediately roar back to record highs. Trump…
There is no question that the stock market is richly valued and the economic expansion since the 2008 mortgage debt panic has endured far longer than normal cycles. Recent pessimism has arisen with major Banks and analysts warning that the sky may start falling soon. (Bloomberg:Wall Street Banks Warn Downturn…
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