QuiCQ 13/03/2024
Hearing any bells?
"Nobody rings a bell at the top or the bottom of a market."
-- Wall Street Proverb
I am pretty bullish on risky assets, mainly equities, and have been so for the past six months or so, which we also expressed in our two tactical equity upgrades over the same time period. BUT, it seems to be getting a bit silly now. Not only did we get sell signal of the contrarian magazine cover indicator from Barron’s over the weekend (top picture), but also can investors now buy a 2x levered ETF on Nvidia (NVDL – second graph), on which you can trade options (!) and a 4x levered ETF on S&P 500 (XXXX – bottom chart). Admittedly, both have been around for a while (December 2022 and December 2023 respectively), but still …! In conclusion, the next sell-off will come, has the potential of being (very) vicious, but don’t forget to buy either on the way down, even if nobody rings a bell for you.Â
