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VRA Letter: Textbook “Roaring 2020’s” Bull Market Action Continues. Deja Vu. Semis Continue to Lead. Falcon Oil & Gas and Tamboran Investor Webcasts (Sunday)

Good Friday morning. Yesterday produced fresh all-time highs in the S&P 500, Dow Jones, Semis (SMH), Nasdaq 100 and 4/11 S&P 500 sectors. We continue to witness textbook (early) bull market action, with brief consolidation ...

Posted On February 23, 20243 MIN Read
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Good Friday morning. Yesterday produced fresh all-time highs in the S&P 500, Dow Jones, Semis (SMH), Nasdaq 100 and 4/11 S&P 500 sectors. We continue to witness textbook (early) bull market action, with brief consolidations and rotations, followed by accelerating gains. And remember, we’ve yet to even hit all-time highs in full Nasdaq (close) and we're still 18% away from ATH’s for the Russell 2000. Our Roaring 2020’s bull market is just getting started. 

Deja Vu

During the 1995-2000 dot-com melt-up we often found ourselves staring at our screens, trying to make sense of what was happening. Companies, with essentially no revenue and light years away from earnings, were trading with market caps that surpassed many of our largest and best known blue chip stocks.

When Amazon’s market cap surpassed Kmart...as an online seller of books...it was hard to compute. You had to force yourself to have vision...and then try and force yourself to enjoy the ride.

This is deja vu. ...

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