Tonight futs down 1000 just wow. https://www.cnbc.com/2020/03/11/fut...loses-in-bear-market-traders-await-trump.html Glad I'm long SQQQ UVXY
We're now triggered off at ~2575, down 900 points from the ATH 3 weeks ago. What has that done for the [ever-maligned] p/e? S&P p/e is now ~19, compared to a historic average of <15, or a post-1990 average of ~20. The S&P CAPE (Shiller p/e) is now ~24, compared to a historic average of <17, or a post-1990 average of ~25. We're ABOUT where we should be. Supposed to be a big ol' fright. My conclusion: in a year's time, we'll be wondering what this corona-petro-neuralgia was all about.
Chumpie tweeted ad nauseam "record" breaking close after close not too long ago besting Pres Obama. As if either was really responsible, good or bad results. But he now has topped Obama with biggest one day Dow drop since 1987. Congrats. We await 3 am sweet tweets acknowledging the accomplishment.
Futures limit down again... https://www.cnbc.com/2020/03/22/stock-market-futures-open-to-close-news.html
Don't forget that denominator, the e, isn't fixed. We know with absolute certainty (which is rare in markets) it's going to drop big time at least for this quarter. And then we'll be up to above average p/e again if we stay at these price levels.
Buy the fng dip folks must be in heaven right now with all these ahh ... dips. Or not. Just average in right? And average in and average in and ....