34% upside in NFLX according to Goldman? That's about 150 points from here. And of course the self-fulfilling prophecy takes over right away, as the stock is already up $16 in pre-market. Never mind that the stock and the entire market is far ahead of where it should be with no correction in years.
No, I'm not short NFLX, shorting momentum stocks will come later...but when? NFLX could fall 150 points in one day in a black swan event....but no one cares, no one is hedged, it's 1999 all over again......and my point is the analysts are certainly a big part of the blame....
And no one is hedged. When you have the mindless, unprofitable GPRO up every day since the IPO, you know the bubble is alive and well. This is worse than 1999 now.
It's called greed.....No one sells, until it's too late. That's the way it always works. Anyone not taking profits today is absolutely nuts.
I agree with your post, except for the word "dreaded", which I would change to "welcomed."
Unbelievable....The Nasdaq is up 60, the S&P is at 1977 already....
No reversals for this Fed. Gotta have those buy programs just on time.
Chicky, has your take changed on any of this nonsense since we last spoke? It seems the Fed is WAY behind the curve now.
Yet another reason for the Fed to raise interest rates and the market to correct. The Fed is behind the curve.
Your post looks familiar......Oh, now I remember...It should look familiar.....It was the exact same post I saw in 1999 and 2007.
It's hard to defend against a late filing and increased audit exposure....too much uncertainty.
ETF's.....It's been driving the market higher for the past few years.....
Which will probably be next week at this rate. Maybe this earnings season will start the correction, who knows.
Siegel is a shill for CNBC......He's promoting his books....and CNBC is trying to promote their ratings.....The only thing that will drop this market now is a black swan, and I'm not even sure that will do it, CNBC and others will say it's a buying opportunity.
Shorts are using the broad market weakness to force the price down, so they can cover at lower prices. There's nothing weird, or wrong. It will be up later this week.
Just being honest, it may be worth a trade. But unless it recovers by tomorrow (close the week near or over $72), the weekly chart is problematic at this point.