Nasdaq down day

What? Thought stocks only go up.

Watching the younger generation flock to stocks during the pandemic has been interesting.

First, Robinhood’s model of no-fee stock trades made the other online brokers move that way too. Don’t worry, they don’t offer it for free, they make money in the middle of the transaction. Novices care more for free trades and less on the true price execution.

Second, all these folks raised in video games and sports betting gravitated to the big casino game of the stock market.

Today’s price action in the Nasdaq composite $COMPX might signal a top.

Here is the 6 month daily chart:

Let’s see how the day goes. For now, this price action is helping my position on the $SQQQ. Had to bear some losses but I don’t want to be out of this position if we get a big few down days.

Seems like our central bankers have been listening to Dire Straits Money for Nothing on repeat.

Fiat currency. Over time, it has always proven to be a bitch. What makes this time so different? Better economy? Nope. Better justice? Nope. Better civility? Nope.

Just more money. Like The Notorious B.I.G. sang, “Mo Money, Mo Problems.” Well, we sure have our share of problems in the grande ‘ole US of A.

Or, do stocks only go up?