Quote (ofthevoid @ 17 Apr 2020 17:19)
irrational exuberance
Some analysts were saying we won't reach 3000 for S&P until the end of the year now we are one or two solid green days from getting there.
Many sectors got killed off but because both the S&P and Nasdaq are so tech heavy now compared to 10 or 20 years ago we aren't seeing the real carnage just by looking at the index etfs.
Financials, energy, reits, industrial, etc, most of these are down sufficiently imo, but what's holding up the indexes is the big dick tech names. I think a fair amount of people believe since tech has been largely recession proof it's a good place to sit with not much downside risk.
You have names like Apple, Msft, Google, etc that are barely off their all time highs. Personally i think a good portion of these companies will get hit, and they'll get smacked maybe not this earnings season but Q2. When they do you'll have the indexes rolling over. I don't think sub 200 is realistic for SPY but 230-250 is a real possibility.
because their business model (other than supply chains rooted in mainland China) didn’t cause any of their short-term financial woes. they didn’t randomly release a shit product and people are still using their services
phone sales will be hit for sure but everything else probably not nearly close enough to worry. this was horrid earnings week and everyone knew it would happen.
amzn is still delivering stuff. nflx still streaming
elon musk still making cutting edge stuff
cmg still selling burritos
mcd still selling burgers
amd and nvda still making graphics cards
banks still lending money
stock market wont reflect shops closing up because the ccp virus’s effects were covered up by globalist organizations like the who
This post was edited by excellence on Apr 17 2020 03:26pm