This rally is unstoppable!
It's fantastic if you are cashing in your longs – an endless stream of suckers coming to buy our shares at ridiculous prices and nothing gets in their way. A Russian Ambssador was killed and the market took a dip and then a truck killed a dozen people in Germany and the market only dipped again and someone shot up a mosque in Switzerland and, well that's white man terrorism – that didn't even get a dip...
The Dow closed yesterday at 19,883, still 117 points away from our 20,000 goal. It's still a good time to cash in your longs ahead of the holidays and I'm bored telling people to be careful and I'm not going to tell you what's wrong in China, etc. – we had a News Tweet this morning and you can check that out if you want to know what's up in the World.
Nope, today is a good day to switch off our brains and enjoy the rally. After all, despite our getting back to mainly CASH!!!, our bullish Long-Term Portfolio is now up almost 140% and we're happy to take the holiday's off with most of our CASH!!! on the sidelines – I'm sure we'll find something to play next year.
In fact, if things are so great, then Nike (NKE) should have good earnings this evening. NKE is the worst-performing stock on the Dow and people must be itching to buy it down at $50.85 and they do make about $2.50 per share for a not-so-awful 20 p/e ratio. Would we pay 20x earnings for a shoe company – certainly not in the real world we wouln't but this is the fake news World we're living in now and 20 times earnings is cheap for a Dow component, where the average p/e is 22.