End of Month End of Quarter
Best Quarter in History
It is almost impossible to find a single analyst from two months who predicted a “V” bottom. They were making up terms for bottoms with every letter of the alphabet EXCEPT for the letter “V”.
Have you ever played Monopoly at a friend's house only to find out you got screwed by some “family rule” that is not written in the book made by Elizabeth Magie in 1902, and published by the Parker Brothers? Our family's rule is that all the money collected for fines, luxury tax, etc. go into FREE PARKING. I was playing Monopoly at a friend's house when I was in 4th grade, and when I saw the father roll “double 6's” he took $500 out of the bank. WTF? What else gives him $500?
Yesterday was the end of the month of June. It was the end of the quarter. It was the best quarter in stock market history. It also happened when everyone slept or was playing the game for a different outcome. Yesterday, we ended the best quarter in stock market history and most participants feel screwed like someone else is getting $500 bills from a fake rule.
No one saw this coming, or so it seems. Do you know how I know? $5 trillion in money market funds still not invested in anything. People are waiting for the second wave of corona. People are waiting for another pull back. People are waiting. And while England slept.....we closed at 3100 in the SPX.
The market had gotten to positive for the year, but pulled back on the second wave/ Big Foot/ Area 51 rumors. Yet, we are only down 4.04% on the year that started at record highs.