Wow what a day. Not only did the stock market tank 4% in regular hours, but is currently freefalling after-hours with volatility spiking to one of the highest levels ever.
Investors are currently going crazy, panic selling without discrimination. The media is tripping over themselves trying to keep up and report on these moves.
You’re going to be bombarded with news over the next few days, so I’ll keep it concise.
*The market is still significantly overvalued
Yes I know it’s hard to believe, but as I’ve been saying over a year now the market has exceeded many historical valuation levels: trailing P/E, forward P/E, market cap over GDP, margin debt outstanding.
*Today is not the end of the world
The market ...Read More