Afternoon Note
By Charles Payne, CEO & Principal Analyst
3/31/2023 1:37 PM
There is a sense the train is leaving the station, but the street is throwing everything it can to slow this market down.
The airwaves are full of experts warning investors to get out now. My favorite is the folks that say sell your winners in top strength, intimating they are doing the same. But the last 50 times on TV, they said don’t buy anything.
It's fine to be bearish, but what's been happening is the 'experts' have to spook others out of the market (read retail investors) so they can get on board or buy the bullet and chase the same names they told everyone else to avoid.
Bears rarely say they were wrong, although Michael Burry threw in the towel yesterday.
Still, the S&P must close above 4,200 to truly be off to the races.
| Comments |
| Charles, What's the chances of the market repeating the 2nd to 3rd quarter meltdown experience in 2022, from happening again this year? Only this time around, in regard to the Fed going too far, there is fear surrounding banks. SVB lit the fuse because of mis-Mangement. Not sure of the full story around Signature's collapse. Personally, the administration and the treasury sec. specifically, should have addressed the contagion aspect in a completely different way than they did. There was no reference to how many regional institutions had protected themselves, from the risk of rising interest rates to remain solid and eliminated the massive withdraws in the aftermath. If anyone cause the contagion to occur, it was them. Terry Dowler on 4/1/2023 11:23:34 AM |
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