HOT INFLATION DATA DASHES MOMO HOPES BUT MOMO BUYS STOCKS ANYWAY
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Inflation
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The momo crowd uses hope as a strategy. Prudent investors know that hope is never a good strategy – this is being vividly demonstrated in the stock market today.
- Yesterday, the momo crowd aggressively bought NASDAQ stocks as they believed that CPI data would be less than the consensus and the stock market would stage one of the biggest rallies.
May 11, 2022