What do Climbers do at Market Mountain Peaks?
- Doug Wakefield
- Jun 6
- 3 min read
Updated: 3 days ago
On Friday, June 5th, we finally had a hard down day in equity markets. It was like the climbers had reached the top, and were now looking down. Traders, like climbers, made a decision on Friday, that it was time to get off the peak of Market Mountain. After 9 weeks, the NASDAQ 100 sliced through its 14 day moving average like it was butter. This, as anyone can see, was a very different day from "easy climbing conditions".
After breaking 30,000 for the first time ever, the climbers looked around, and immediately started back down. Will the climbers keep on pushing things back up in June, or will they continue to descend this peak? I assume they would be tired after climbing so fast these last several week. And there is more evidence that things are changing.
To really understand this incredible climbing achievement, we must look back over the last 30 years. Remember that small peak named, "Dot.com"?
Of course, to climb to 30,000 feet, there was a little help from the money printing boys.
Another incredible peak has developed in South Korea. The speed of the climb to this top is really amazing. Will the climbers continue their sprint to every higher levels this month, or will they are start their descent. I wonder how many climbers realized where they were as we started June versus where this climb was just a little over a year ago? In fact, I wonder if they realize how much debt has helped explode their climb upward. Could an avalanche be a problem these climbers have considered??
Of course, there have been warnings signs to the climbers that if they made it this high, they may want to get back down fairly quick because of the lack of air at these extremely high altitudes.
From what I have seen in the climbing community, I find this smaller mountain very intriguing. While the last few months recent climbers have been sprinting to the top of these larger mountains, climbers on this mountain have been shown an tendency toward confusion regarding which direction to go since reaching a peak in January.
And checking my AI monitor, the money printers seem to still have an insatiable appetite for Metal Mountain.
Climbers have been very confused lately by all the travelers going up and down the LCO Mountain, but looking back over the last few years, It does appear that the probability is strong that climbers will start looking for a higher peak in the near future.
Be careful out there, especially if you have just now arrived at the top of these mountains. Views from the top always look different from views at the bottom.
Warning: All time highs have hit for years now, so this term does not mean much to the public. Someone will do something to take care of my investments. WRONG. There was a top in March 2000. There was a top in 2007. And while at this stage, we can not say this is the beginning of another historic decline, this is not a time for climbers to be overconfident that Market Mountains only go up and there is no such thing as a peak.
Disclaimer: Best Minds Inc was closed in 2018. I am retired. Nothing I am writing should be taken as advice to buy or sell any form of security or asset. Everyone must study and consider their own situation before putting money anywhere, as well as understand that they are living in a time where major changes at the highest levels of money are taking place. These writings are free.
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