FYI: I don’t have any empiricism to attach to my remarks below. There’s no evidence for anything I’m about to say here, which is rare for this blog, but whatever I’m saying it because I think this is what’s going on…
This week marks the ninth week of the correction that began in US stocks during the week of September 17th. So we’re now more than two full months from making new highs. It’s weighing on sentiment. Boredom giving way to worry, worry to fear, fear to, well, we’re not at panic yet. The instant gratification of buying a big growth stock or tech name and watching it go vertical stopped working this summer. Facebook is almost cut in half. Netflix is down from the highs but only now beginning to vomit all over itself. That game is over.
Regards,
Ted
https://thereformedbroker.com/2018/11/19/okay-heres-whats-going-on/
