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To my eyes…it’s still a Junk Stock Rally 230213

Some people think I’m obsessed with money, because I’m always talking about the Stock Market.  Well, to show more of my softer side, here’s a Valentine’s Day inspirational thought.

The poets tell us that beauty is in the eye of the beholder, and I whole heartedly agree. 

For example, interpreting economic data, stock charts and Fed speak…it’s all about what you want to see.

And right now, to my eyes, the 2023 Stock Market Rally still looks like a JUNK stock rally.

Many of the Pandemic One-Hit-Wonders have started out the year with a bang.  For example, Cathie Wood’s ARKK fund is up nearly 30% year to date; however, it’s still down over 70% from its PHH (pandemic hysterical high).

There’s a long list of MEME stocks to make this point, but I’ll just mention one other- AMC Entertainment.  It’s one of my favorite examples of “madness of crowds mania,” because rather than throw good money after bad by re-investing in its failed business model…AMC management (I use that term loosely) bought a $28M share in a gold mine. 

Eyeing the AMC stock chart, I see a declining asset that hasn’t yet reached ZERO.  My cynical mind also thinks that the Fed wants to “deflate” MEME stock mania, and they’re willing to sacrifice some S&P 500 gains to do it.

But enough about Stocks…here’s a final thought for Valentine’s Day:

Our wedding anniversary is in February, so I always like to do something extra special with my wife on Valentine’s Day.  This year we’re doing a date night at Costco.

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