Cap'n, a few weeks ago you were warning everyone here how overbought this market was and there was nothing to support and the Fed and every other government entity was keeping these prices artificially high...
You were warning about a downturn which I told you a correction would be normal and inevitable. Looking at Historical data.
No. It's likely not done yet. Comapnies with such high stock prices and no profits are ridiculous. There never was any real solid grounds for prices of stocks to be where they were for MANY of those listed and a day of reckoning was awaiting the time to happen and adjust.
That day has happened and is here and I hope it does not stop until some sanity is returned to the prices of stocks...
As President and ceo of my own manufacturing corporation for years, we had to live in reality and cash flows as well as reserves and capital expenditures to increase our ability to grow the product lines as well as the over all company. Profits MUST be maintained and in a good ratio.
BAsics. They are important.. The wild eyed pie in the sky lolok to the future types who run up stock prices with NOTHING to back or support them have created this artifical bubble we have lived in and watched for some time now...
These people to me are as stupid as theones who believe the crap from the Dimwit politicians about free everything for them and the people buying the tripe have no idea how ANY of it is going to funded.... It's free. Just like the stocks were darn near free. No profit. Lots of red ink hemorraging cash, but the stock price kept going up and up.
I have heard the arguments here on this board that it doesn't matter for various reasons. Hope fo the future. The next really big thing. Nothing seemed to matter and common sense was thrown out with the bathwater.
SO, in a nutshell, NO, it's likely not done because it has not gone back enough yet... MANY of those overproced company stocks are still way over valued and in addition to that, we have a potential pandemic going on which creates even more additional stress on nervous investors.
SO, get a comfortable seat and watch the show and we'll all see where it eventually lands and resets itself.
From that point we will begin another rise. I hope the rise will be based on economicperformances of coprporations rtaher on pipe dreams of maybe's and what if's, most of which NEVER come true. For every 1 that does, there are hundred upon hundreds that do not...
SO you have an extrememly overpriced market brought upon the shoulders of a house of cards...
That's my opinion and views which have all been poo-pooed before and likely will again.
In the meatime, I will sit back and enjoy watching the show...
I also will be seeing my orthopaedic surgeon in the near future...
PS. NICE job on the charts. Looks like a hazardous ski path and slope...
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