J. Hardy wrote:
Ghost of Igloi wrote:
S&P 500 2,020 by 2020....
The selling today isn't even precipitated by whatever your bear thesis is these days. This is all just because Trump tweeted about more China tariffs but everyone knows he's addicted to the stock market and needs to get re-elected in 2020 to avoid going to jail. Buy the dip because the president will do whatever he can to pump this market up when he needs to the most.
I don’t believe that view is correct. No person or entity controls financial markets, influence markets, yes. Besides Trump will just blame the Fed and China if there are poor equity markets. Furthermore, notice how markets cannot advance much unless there is some narrative supporting multiple expansion. Stocks are simply too expensive. Whether it is now or six months from now we are headed for a severe Bear Market.