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Dozens of the biggest stocks on the market are at or near their all-time highs. Valuations are still at nosebleed levels. So why don’t I feel great?
Because unlike the market, where hopium and craziness can take you really, really far, severe cracks are starting to show in the U.S. economy… where hopium and craziness will get you way down a $35 trillion hole. In other words, there’s a big disconnect between the price action of these stocks (which are in the economy, duh) and the economy itself.
But if we look a little closer, we can see warnings in some of these stocks themselves. Retail stocks, for instance, are getting annihilated. Let’s look at what all this means and make some sense of it…
