In last quarter’s update on COMP, we suggested its immediate upside potential was to the 2000 top at 5132 [see: Mar 23 Update.] The timing looked like late May.
All it took was a Fed president hinting at additional QE, and the BOJ greatly expanding their already enormous QQE. After a close call on Apr 27, the actual tag occurred Jun 18 — a little over 15 years after the previous bubble popped.
Will those who rode the NASDAQ down nearly 80% be interested in sticking around now that they’re back to even? Will new money find its way to this, the most volatile sector during the two previous crashes?
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