Friday, November 8, 2019
CPC and CPCE Put/Call Ratios Daily Charts; Significant Stock Market Top At Hand
The CPC put/call drops to 0.66 and the CPCE drops to 0.54 verifying rampant complacency in the stock market currently. Everybody and his bro expect stocks to rally into 2020. You know what happens when everyone is partying on one side of the boat.
The SPX, which is the S&P 500, the stock market, prints a new all-time record high at 3097.77 (lucky 7's or an omen of a top?), and a new all-time record closing high at 3085.18 on Thursday, 11/7/19.
Uncle Johnny and Aunt Kate, very risk-averse and not a fan of the stock market, placed their entire life savings in FB and GOOGL yesterday. Timmy Trader, only 3 months on the job, is investing millions of his client's money in stocks telling them not to worry at all; he is guaranteeing huge returns by New Years. The shoeshine boy used his entire paycheck to buy AAPL stock and the taxi cab driver gathered all his tips, that he saved for two years in a large water cooler bottle, and bot AMZN stock. Everyone is drinking Fed and other global central banker booze and buying stocks. Investors are dancing, singing and pinching intern's bottoms. The band is playing happy songs and traders are buying stocks with reckless abandon. The universal consensus is that we live in the best of times and this will never end.
Sell, Mortimer, sell. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.