The #MysteryBroker reiterates: We’re in “the last phase of the first year of a bull market.” He points to past new bull markets where the first phase lasted a year, plus or minus a month or so. This one, by his lights, started March 23 of last year...
The #MysteryBroker says by the end of April, he expects stocks will enter a period of 3-5 months of “digestion and correction” with likely downside of roughly 15% in the S&P 500...
Coinciding with this shift to a new phase, #MysteryBroker says high-beta and speculative stocks should lose a bit more and value outperformance should solidify...
As for the new small-investor energy in the market, #MysteryBroker sees no significant difference between the Reddit hive now and Yahoo message boards in the late-'90s. The crowding into ARK, etc, shows fixation of hypergrowth tech is overdone...
No matter what, economy "will surge this spring and summer," though he's among those who thinks new fiscal support should be more targeted. Risk of overheat, yield rising too much, but not enough to derail economic rebound.
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