"Sit back, relax, and enjoy the flight"
At this latest juncture, U.S. stocks are aligned against literally every major asset class, and macro data point including:
Bond yields
Oil/Commodities
Gasoline/Natgas
Retail sales/stocks
USDJPY carry
China Macro
Rest of World stocks
Junk bonds
Municipal bonds
Global trade
Global GDP
Corporate Profits
Wages
U.S. deficit/honest GDP
And yet, I recall for some also inexplicable reason that speculators went late stage insane back in 2008 amid all of that turmoil as well. As if they were "owed" some sort of rally regardless of impending collapse.
I showed a few posts ago the manic reach for speculative stocks such as cannabis stocks, junk semiconductors, internet stocks, Netflix etc. Micro cap stocks are the smallest most speculative penny stocks in the entire market. Therefore, this is the micro cap stock index as a ratio of the S&P 500 with Ameritrade (black):
An unprecedented reach for junk:
For example, Westmoreland Coal
Market cap: $323 million
