Base case is we're about to bounce big time because we never really had a bull market from the last ATH, especially when adjusted for inflation and especially when compared to gold.
And the real reason we had the dip was sellers front-running the top of the 4-year cycle which invalidated it. IOW, the second order effect of everyone knowing the 4-year cycle was to destroy the cycle.
But when it happened people thought, "Of course, it's the cycle" and expect a two-year bear. So they capitulated early, and the real bull begins as the macro environment turns inflationary and the fundamentals are better than ever.
Of course I could be wrong, but one thing I know for sure is all the clever people telling me it's a bear and breaking out their charts don't know shit, either.
Skate to where the puck is going, not where it's been.
And the real reason we had the dip was sellers front-running the top of the 4-year cycle which invalidated it. IOW, the second order effect of everyone knowing the 4-year cycle was to destroy the cycle.
But when it happened people thought, "Of course, it's the cycle" and expect a two-year bear. So they capitulated early, and the real bull begins as the macro environment turns inflationary and the fundamentals are better than ever.
Of course I could be wrong, but one thing I know for sure is all the clever people telling me it's a bear and breaking out their charts don't know shit, either.
Skate to where the puck is going, not where it's been.
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