Payne's Perspecive: August 15, 2022: Moving Out The Station
What a week!
The S&P 500 and the NASDAQ Composite finished higher for the fourth consecutive week, which isn’t something I would generally dwell on, but it’s the longest winning streak since November 2021.
I was impressed and very surprised at the depth of determination the market exhibited, although there were elements of overreactions.
I do not think there is too much enthusiasm out there; unfortunately, there is still too much pessimism.
The great news is the so-called smart money is not only overtly bearish, but they have put big chunks of money out there betting against stocks. It is true they can stay short for long swathes of time, but at some point, they may have to blink.
To read the full report contact your account executive or email Research@wstreet.com.
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