NQ Most Overbought

There is only one entity that keeps buying at nose bleed levels. Not Goldman, Not JPM, Not Blackrock.....The buyer who has no fear is the Federal Reserve. Why you ask would they keep buying at overbought extremes?

Money costs them nothing. It's the FOMC who creates these enormous bubbles...they grow and grow and grow. This time everything is overbought, meaning housing. They are out of control.

 

NQ is parabolic at this point. I'm even afraid to buy up here. And I've been the biggest bull on this site for some time. In the past 20 years, I've never seen anything like this.

 

*sighs* It's not the Fed dude. It's institutions rotating back into their darling trade, the mega-cap tech stocks.

 

*chokes* What do you mean, "afraid to buy up here?!?*

Hmm, maybe my admonitions about fearing the ATH have gotten to you? Maybe? Maybe? C'mon Rick, let's see a smile!

 

The is no such thing as overbought.

When the NDX is 20,000 these prices levels will look cheap.

 

Here's to hoping you're an awfully young chap otherwise the odds you see Nasdaq @ 20K in this lifetime are nonexistent otherwise.

 

20,000 is only about 35% higher from current levels.

I expect to see 50,000 in my lifetime.

 

Then the stock paper your profits print on won't even be worth enough to wipe your ass with.

Venezuela for the win!

 

Rickshaw smiles like once every two years. I guess I am not worthy.

 

^^^^^^^This is a guarantee. Mark it, dude.