Jim Goddard Show: Trump 15% Business Tax Bluster or Real? Mike Swanson (04/27/2017)
Stock market update on the Jim Goddard show - I talked about the fact that five stocks are now fueling 40% of the gains in the Nasdaq this year.
The Wall Street Journal has dubbed these fad stocks the "Fast Five."
This is very similar to CNBC's talk of buying the "FANG" big cap tech stocks back in 2015 when the stock market was doing nothing that summer. The internals were fading and these stocks were keeping the market up.
Then everything fell apart in August 2015 and the Nasdaq fell 20% from its July high to low of 2016.
The technical analysis charts warned us ahead of time even though all of the "FANG" chasing only made people suffer.
Is the same thing going to happen to people this fall or is something changing this week with the stock market that makes signs of a top in March something not to worry about?
I also talked about oil prices with Goddard and the Trump programs and the stock market.
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