The S&P500, Nasdaq100 and Global100 Index each made new all-time highs yesterday.
This is among many other stocks, sectors and indexes around the world that are also making new cycle highs.
We've been buying stocks very aggressively, of course, because historically it pays much better to own stocks during bull markets vs doing the alternative.
We've gone back and done the work. It's just math.
Those investors with too much cash, or too few stocks in their portfolios, have been paying the consequences.
The pushback I get, and have been getting over the past couple of years, tends to revolve around valuation and how stocks are "too expensive".
I find that to be a hilarious reason to avoid buying stocks during a bull market.
Common excuses for fighting this powerful trend include, but are not limited to:
The 4th Highest Trailing P/E for the S&P500 in 124 years
US Stock Market Concentration is at a record high, when you add up the top 10 companies as a % of Total S&P500 market-cap
US Stocks are at a 75-year high vs the Rest of the World
And some of these might be true, or an exaggeration perhaps.
I really don't care. None of these things would ever make me want to fight trends.
I mean, would you want to buy cheap sushi?
Have you ever eaten cheap sushi?
You can do it if you want. But you get what you pay for in life.
This is a bull market, and so we've been acting accordingly. If we've had to "pay up" for some stocks, then so be it. But it certainly hasn't felt that way, I'll tell you that.
This week was our LIVE Monthly Charts Conference Call for Premium Members of ASC Research.
This is where we discussed all of the major trends across stock markets, not just in the United States but globally. And we also talked about how the other asset classes like Energy, Metals, Interest Rates and the Dollar are impacting stocks and the rest of this ongoing Bull Market.
Premium Members can access the Video Replay, download the 170 charts and review all the details in each of the trade ideas discussed here.
If you're NOT already a Premium Member, you can get 24/7 access to all the Premium Research and Trade Ideas RISK FREE by clicking here.
Also please feel free to contact Mary or give her a call +1 (323) 421-7910 and see if you have any credits that you can use to get a discounted, or even FREE subscription.
Biggest Christmas Ever
My friend Jeff Macke has been analyzing retailers since he was a kid. Literally.
He's told me stories about how, while normal kids played catch with their dads, he was accompanying his (then Target CEO Kenneth Macke) to stores to learn about their businesses.
So when I want to know what's going on in retail, Jeff is the guy I ask.
And he was kind enough to put together a FREE report for me to share with you. With the retail earnings season behind us and holiday shopping well underway (well, for some of us), Jeff gave a quick analysis of who is winning and losing this Christmas.
"Abercrombie won the mall. Walmart won Discount. William Sonoma and Dick’s Sporting Goods have won Home and Sports so hard they’re running out of chains to compete with. Amazon is winning the world and barely seems to care about (or profit from) retail at all." - Jeff Macke
