Market Players have Lost Control
We are starting a time when the Pandemic withers and a certain level of normalcy is attained.
As we have said many times, this will be the tough time for the market. For the past twelve months a hyped market play has been based around expectations of the new normal. Just today we saw strong wholesale sales and inventory numbers as the corporate world gets in position for total happiness.
In the real world I again will say the people with money have been buying and will not be buying more. Also the thinking part of the population, maybe 50 percent, are going to be approaching this thing with a certain level of timidity. I know I am not going to rush out to do a lot of things until we reach at least an 85 percent level of herd immunity. With the place this world is in now, where few agree on anything, why would we see mass movement out of cluelessness.
So I will probably be posting less going forward, maybe twice a week as I see the most important thing will be to be patient with a negative macro view of the stock market. This will take at least 18 months.
The reopening will be much less exciting than expected.