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All major U.S. stock markets closed on Wednesday June 19, in observance of the Juneteenth Holiday
Thanks Catch. I was really getting tired of watching all the major indexes climbing higher and higher every day. Neck pains. A welcome break from the great money machine in the sky.
No crystal ball here. But in the past it’s typically been smaller investors (late to the party) who’ve gotten burned the worst when a rollicking bull market finally runs out of steam and turns down. A narrow bull market like today’s can be even more brutal if folks are unknowingly / unwittingly drawn in.
One component of the NASDAQ is higher by 3.4% today. The overall market as measured by the 3 major indexes seems to be treading water.
look at the relentless insider sales at HIMS and the relentless retail purchase of the stock.
Since they announced about 2-3 weeks ago about getting into weight loss drugs, there are a lot of C-suite sales, with the Chief Commercial Officer alone making two insider sales for a total of nearly 1M shares. After those sales, he owns 2M shares - so, he sold 1/3rd of his position and during that time the stock has gone up 30+%.
This is not one isolated example. There are a lot of stocks like this below the surface and the narrow 7 or 10 stock bull market narrative is from the (lazy?) media.
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One component of the NASDAQ is higher by 3.4% today. The overall market as measured by the 3 major indexes seems to be treading water.
There is a lot of froth underneath the surface.
look at the relentless insider sales at HIMS and the relentless retail purchase of the stock.
Since they announced about 2-3 weeks ago about getting into weight loss drugs, there are a lot of C-suite sales, with the Chief Commercial Officer alone making two insider sales for a total of nearly 1M shares. After those sales, he owns 2M shares - so, he sold 1/3rd of his position and during that time the stock has gone up 30+%.
This is not one isolated example. There are a lot of stocks like this below the surface and the narrow 7 or 10 stock bull market narrative is from the (lazy?) media.