Will bulls or bears celebrate? Probably the bulls, right off the cliff…

In April I suggested that, between the bear market and bubble reflation, the latter was the more likely scenario. So far so good.Presently economic data is the worst we've seen in the living memory and stocks close to most overvalued ever. Now we have mass riots. Nonetheless stocks rise...As David Zervos recently said, looking at … Continue reading Will bulls or bears celebrate? Probably the bulls, right off the cliff…

The one force moving stock prices and what it tells us about the future

(Originally written in November 2019) Back when I traded stocks in late 1990s, I got a gnawing suspicion that beyond the nonstop noise of the news flow, there was some force pushing the rising tide, but I couldn’t discern what it was. By today I think I worked it out. The most surprising thing about … Continue reading The one force moving stock prices and what it tells us about the future