8/5/2014 – A down day with the Dow Jones down 141 points (-0.85%) and the Nasdaq down 31 points (-0.71%).
The stock market continues to behave as anticipated. So much so, that my subscribers know not only where this correction will bottom, but also the exact date. Plus, what to expect from the resulting rally. Click here to learn more.
Now, the amount of stupidity out there remains off the charts. In fact, I am still trying to figure out if that level was higher at 2000/2007 tops or not. Case and point……
Case #1: Apple Buybacks Pay Most Ever as CEOs Spend $211 Billion
S&P 500 constituents have spent $211 billion on their own stock this year amid concern the five-year bull market is prone to selloffs such as last week’s 2.7 percent retreat.
Say what? Let me get this straight. So, CEOs are buying back their stocks at extreme valuation levels and as fast as they could to avert a collapse? While the last part might not be entirely accurate, they are, indeed, buying at the top. As they always do. To be honest, they would probably make a lot more money buying long term put options against their own stocks instead wasting billions on pointless buybacks.
Case #2: Tesla to double in the next year? Trader says yes
Why will Tesla double? Well, that’s a stupid question according to this guy. Obviously because it is showing strength in the face of the most recent decline. When highly speculative stocks like Tesla do that (selling at forward P/E of 75 and at 12 times sales), they tend to double when the market recovers. Come on, even retarded apes know that.
On a more serious note, if this doesn’t scream out “market bubble”, I don’t know what will. The first step is to understand that most market participants are, once again, playing a game of musical chairs. Just as they did at 2000 and 2007 tops (and many others). The real question is……will you have a chair when the music stops playing?
This conclusion is further supported by my mathematical and timing work. It clearly shows a severe bear market between 2014-2017. In fact, 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 when the bear market of 2014-2017 will start (to the day) and its internal composition, 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. August 4th, 2014 InvestWithAlex.com
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