To gain an edge, this is what you need to know now.
New Mantra
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- In 1970, Marty Zweig coined the phrase “do not fight the Fed.” Since then, until recently, it has been the maxim of Wall Street.
- The maxim of not fighting the Fed posed a problem for momo gurus in 2022. Momo gurus’ job is to persuade investors to buy stocks. How could they persuade the herd to buy stocks when the Fed was tightening monetary policy? Momo gurus invented a new mantra, “do not believe the Fed.”