And what better way to keep the momentum going but to keep on taking major name stocks and coming out with higher price targets on a daily basis. This would place a market capitalization of over $1.6 trillion. RBC ups price forecast on Amazon to $3,300, the highest target on Wall Street
If 10 year Treasury is @ .9% and 30 @ 1.6%, is SP 500 PE of 22 too expensive??? Not that long ago, economists talked about PE of 15 as average, but historical 30 yr bond average yielded were in the 6%-8% range. In that sense, today's PE is not high in comparison. And QuickenLoan is quoting a 30 yr fixed of 2.75% APR 2.9%. Still remember paying >>10% 30 yr fixed mortgage not too long ago. There is no benchmark or reference when I tried to look for historical guide.
The bottom line is at the present time it matters little wether in 6 months will the economy be back to precovid levels . In reality we have many problems in the 1-2 yr period ahead . But at the present time if 10 million traders believe they can buy xyzzy stock at $2 and sell it at $3 at the end of the day thats all that matters . Wether hertz is 10 cents in 2 months months means nothing today . I won't own it in 2 days much less 2 months . Can i jump on the elephant and catch a ride. Its all psychology .Now in 3 months we could be down 20% and the psychology has changed . Only the people who held and thats a lot will be hurt . Its all a game .
CHK haaaa Hertz haaaaaaaa RCL haaaa NkLA hahahha Millenials having a party I believe this is nothimg but huge fractional share buying with millenials just having fun fun fun trading stocks
Day in and day out nothing but economy reopening. And when it reopens? This trade is just redundant Stocks continue to rally on hopes of the economy reopening, with the Dow up 300 points https://www.cnbc.com/2020/06/07/stock-market-futures-open-to-close-news.html
Do they really have the buying power? I mean it's not billions. Though I suppose the institutions have to sell to someone