from King World News
On the heels of a violent countertrend rally in stocks, Stephanie Pomboy says, “You are here,” including a fascinating chart, plus Macau collapse, WTF, and 3/4 point emergency rate cut.
You Are Here
March 2 (King World News) – Steph Pomboy: “You are HERE. after the ‘flush’ last week, the market is still at its 2nd highest valuation in history. This ratio has averaged 100% over the last 3 decades. getting back to that would require lopping another $8t off market cap. (that’s assuming we neatly revert to the mean). (See below).