That was some week with Nvidia and AI taking centre stage (as usual) with its record-breaking surge in cap on Thursday following results. In recent blogs I have been kicking around the idea that AI is either in a bubble and about to suffer a
Author: John Burford
I derive little satisfaction in not being alone in my frustration at today’s so-called ‘broken’ markets. Yes. I know the markets are not the same thing as the economy, but when you have for example the EU Stocks 50 index making new ATHs this week
I have in my many years never witnessed such fractured stock markets as these. Many US indexes are advancing exponentially and are making new ATHs while at the same time, the internals are flashing a deep red. For instance, the number of new highs are
The French farmers, that is. And the Dutch. And the Belgians and now our very own British farmers – the nation that seems almost immune to modern mass civil unrest – are poised to join them in what I am calling Tractor Turmoil, As I
Most stock indexes are making new ATHs (with our favoured Russell 2000 being the standout exception). Normally, this indicates that investors expect higher earnings to come. That is, unless the market is gripped in a feverish speculative mania of course, when earnings don’t really enter
The Marvellous Magnificent Magic Seven rules! Forget the rest (except my favoured uranium sector. of course!) – the M7 is just about the only game in town. Despite dotcom-type measures of valuation (P/E over 50) the shares surged last week to new highs. And just
A hugely significant financial event occurred last week with the much anticipated launch of the first US ETF in cryptocurrencies on 10 January. It was met with at first a shrug and then yesterday, a full scale thud with the Bitcoin price down 8.6% to
I believe the 28th of December will go down as marking the day on which major reversals of many important markets were launched following stunning rallies post October. Those highs very likely mark the end of the decades-old bull trend in financial assets. The trend
Last week’s Where is the Wall of Worry? blog pointed to the extreme bullish investor positioning in US stocks inspired by their expectation for a rapid Fed pivot next year. And to top it off in the final week, they abandoned all restraint and piled
Bull markets in stocks advance against a barrage of headwinds, seemingly irrationally. A Wall of Worry can be very tall. Interest rates high? No problem. Debt levels gargantuan? No worries. Earnings flat-lining? Great! US corporate bankruptcies on a sharp rise? Fabulous! Oh, and international tensions
Stocks (some at least) powered even higher and my comparison with Everest is highly appropriate. The Dow last week made a new ATH just poking above the Jan 2022 37,000 high. But that was the only major index to do so – the Russell 2000,
As we head into the New Year, most of us look back on 2023 and assess our performance in the markets we choose to trade. And also look forward. Do we keep to our winning strategies that served us well and ditch those that didn’t?
