Yawn, another new all-time high for the Nasdaq 100. All while you continue to read the papers saying that valuations are stretched. That the yield curve is too flat. Talking heads on the boob tube continue to dig through data for signs of an imminent collapse. They will all be right some day. But it does not look like that day is now.
So what are you to do as an investor? First, put down the newspaper and shut off the financial news on the television. They feed on your fear because they know you. It amazes me how the lightbulb went off with Facebook and Google and the likes recently. Suddenly everyone realized they were the product, got all bent out of shape for 30 minutes then carried on.
Newspapers and television news have been running the game for decades but on a slower scale. They know when you watch and what they are writing or talking about when you do. And since you are human, you are wired for fear. This is why you need to shut it out. When you do the picture below is easier to follow.
The Nasdaq 100 ETF ($QQQ) made another record closing level on Monday (also my birthday). And it should not have surprised anyone. It has been making a series of higher highs and higher lows since April. There has been no indication that it would change. That is all the news you need to know. Period.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.