The market is frothy and investors are optimistic. Is it time to take some wins?
Wall Street Journal market columnist James Mackintosh thinks the market “feels toppy” and concluded it “feels like a good time to take some money off the table.”
That’s not an unreasonable conclusion given the breadth of indicators we’ve also spotlighted recently showing that by any conventional rule of thumb, this market is overextended.
Of course there’s no telling when an overextended market snaps back to reality. But... retail-trading activity. Shiller PE. Equity risk premium. Price-to-earnings multiples. The Buffett indicator. They’re all saying the same thing.
Not to mention the euphoric pricing of individual heavily traded issues like Palantir, whose nearly 330% rise this year has made it the top stock in the S&P 500.
The WSJ spotlights another chart I’ve been meaning to get to, recently published by the Conference Board, showing off-the-charts optimism for a market rise over the next year. Yikes.
Of course there’s no telling when an overextended market snaps back to reality. But... retail-trading activity. Shiller PE. Equity risk premium. Price-to-earnings multiples. The Buffett indicator. They’re all saying the same thing.
Not to mention the euphoric pricing of individual heavily traded issues like Palantir, whose nearly 330% rise this year has made it the top stock in the S&P 500.
The WSJ spotlights another chart I’ve been meaning to get to, recently published by the Conference Board, showing off-the-charts optimism for a market rise over the next year. Yikes.
