Another up day with the Dow Jones up 87 points (+0.52%) and the Nasdaq up 25 points (0.59%).
The market continues to push higher while the VIX (volatility/fear index) collapsed bellow 11, pushing some of the lowest levels ever recorded. As I write this, it is about 4% away from its 2007 low. We all know what happened thereafter.
On the flip side, Uber Technologies Inc (a money losing company) just completed a Venture Capital round at $17 Billion valuation. Yes, you have read it right. A company with no net income and a “Big Sparkly Dream” of being the “Next of Something” is worth more than Hertz Global Holdings Inc, Best Buy Co, Alcoa or another 250 companies on the S&P 500 index.
If this doesn’t SCREAM out “Market Top” or show you how out of touch with reality today’s valuation levels are, I am not sure what will. Certainly, a multitude of Wall Street analyst and talking heads are standing by to proclaim that it is “different this time”. Yet, if you value your money you wouldn’t buy it for a second.
This is further confirmed by my mathematical and timing work. Again, my work shows a severe bear market between 2014-2017. When it starts it will very quickly retrace most of the gains accrued over the last few years. If you would be interested in learning which way it will break and when, please CLICK HERE
(***Please Note: Due to my obligations to my Subscribers I am unable to provide you with more exact forecasts. In fact, I am being “Wishy Washy” at best with my FREE daily updates here. If you would be interested in exact forecasts, dates, times and precise daily coverage, please Click Here). Daily Stock Market Update. June 5th, 2014 InvestWithAlex.com
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Daily Stock Market Update. June 6th, 2014. InvestWithAlex.com Google