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Stock Market, Tech Stocks

Opinion | Beware the Dow 30K Euphoria

The market always dives en route to long-term rises. And tech stocks look wobbly.

11/30/2020 6:15:00 PM

From WSJopinion: In many ways, today’s market feels like 1999. Will it end the same way, asks andykessler

The market always dives en route to long-term rises. And tech stocks look wobbly.

Nov. 29, 2020 12:52 pm ETA great Wall Street lesson: Keep those decamillennial hats around. Last Tuesday saw the Dow Jones Industrial Average close above 30000 for the first time, but by Friday it was underwater again. Remember, more than 10 years passed between March 1999, when the market first crossed 10000 (with wild celebration), and November 2009, when it finally crossed that mark for good (hopefully). Even more time passed between when the market briefly crossed 1000 in 1966 and when it passed that mark permanently late in 1982.

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opinion andykessler We need the real Y2K! After this POTUS one last implode is only fitting. After all he did build a house of cards. opinion andykessler It ended ok. My tech funds doubled between Sept and Dec 31, 1999. I thought it might be dumb to pay ST cap gain, but sold them. They died off for years. At least 1999 has Y2k reason. Now ? Low interest rates. OK. Social media ads? Huh? Someday travel will be allowed?

opinion andykessler You know I’ve been thinking the same thing and then I hear about the virtual lines for PS5’s and the actual lines at stores for X Box X and PS5’s and I wonder ... hmm maybe it’s not a bubble ... things can’t be that bad when people have money to complain about sold out consoles opinion andykessler Might be

opinion andykessler Growing calls to investigate Wuhan Institute of Virology as a source of SARS-CoV-2 have led to increased scrutiny of EcoHealth Alliance. Its members played an early role in framing questions about possible lab origin of SARS-CoV-2 as “crackpot theories that need to be addressed.”

opinion andykessler We have no money to subscribe opinion andykessler History will return some day. opinion andykessler once again, these stocks are way overpriced. to hell with the market, someplace else looks better. opinion andykessler Irrational exuberance