The Melt Up Continues and Two Surprises
In the beginning of 2024, almost all financial analysts and the general public were expecting a recession during the year. Instead, the market is up 27% (S&P 500) for the last 12 months as of mid-November.

“It Doesn’t Matter”

After a very long time in the investment business, you get used to being asked a lot of the same questions over and over. Among them, What do you think of the market? What is your opinion on interest rates? Do you anticipate a recession? What will be the impact of the election?

Speculation has become so extreme in the current market that option trading now exceeds overall stock trading volume. The fever has grown so intense that 40% of options traded are now the most aggressive zero-dated options, those that expire on the same day they are issued.