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It’s a new week, but the same old tape. That means Tesla up, cloud stocks up, FAANG up, biotechs up, gold up and SPAC’s up.
I am reminded of this Fred Flinstone clip every time I check the market these days.
I first wrote about SPAC’s on Momentum Monday back in February, a few weeks before the market topped. I have no idea what the continuation in the SPAC offerings means this time around, but I am seeing people go bonkers for them. Of course the people can’t go bonkers from them if the sausage makers don’t make them.
The global, social, mobile web and the cloud have created an endless canvas for the imaginative founders, entrepreneurs and ‘bankers’ and millions of new investors that could care less about the S&P and value.
As usual, Ivanhoff and I tour the market covering the markets and this momentum. There are some new ideas and I hope you enjoy.
It is not hurting the market that the FED is a cash cannon and that mortgage rates are at all-time lows. Charlie’s FIVE chart Friday is always a good read for the flavor of the overall markets.
Have a great week.
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