Sally should admit he was wrong. NVDA will not reach $200 by year end, perhaps never.
Sally should admit he was wrong. NVDA will not reach $200 by year end, perhaps never.
Looks like quite the bloodbath incoming.
tl;dr - Bank of Japan raised rates and people borrowing Yen and converting to USD assets are now totally F'd
+ NVDA production problems
+War in middle east
+buffett selling Apple
+weaker jobs data
+de-inversion of the yield curve
+election toss up again after being settled on a trump admin. Market doesn't like surprises.
+ regular August weakness
Seems like a straw that broke the camel's back sitch - just one thing after the next, with Japan being the match that lit the fire. Could have survived 3-4 of these but all put together was too much.
VIX 62! That's a very very high number. Utter terror out there, firms willing to pay whatever it takes for protection. Which means a lot of fools are buying protection at any price and will have to buy stocks very quickly in size...if stocks can get a foothold.
Good call from Mike Wilson of Morgan Stanley a year ago.
Stocks up around 17% from a year ago.
well I'm buying. Not all at once, but from the open and steadily.
Can't look away from a VIX 62 with a strong underlying economy and no immediate obvious major crisis.