Today, the Dutch financial newspaper Het Financieele Dagblad reports that the number of Dutch households that is active in the stock markets has risen explosively. The level of growth is comparable to levels that were last seen at the end of the last century. Many new entrants indicate that they decided to start investing ‘because their neighbor also had started investing’. Others report that they don’t want to miss out, now that we are experiencing a sharp increase in stock prices. One wonders: if the fast increasing number of households that are entering the stock markets looks like 1998/1999, will their eventual disillusionment be the same?
In the last minutes of yesterday’s trading session, all three main US benchmarks reached an all-time high. The S&P 500 added 0.14%, the Dow rose 0.03% and the NASDAQ closed 0.32% higher. Volatility eased slightly: the VIX closed 1% lower. UVXY ETFs squeezed out a small gain of 0.3% nevertheless. XIV closed 0.2% lower.
All of our models closed virtually unchanged. Danny Daredevil‘s RSS remained at 23%. Adventurous Anny is still holding cash. Her RSS was unchanged at 15%. Solid Suzy and Lazy Larry took a tiny step back. Their RSS is currently at 69%.
None of our models gave a trading signal at the end of yesterday’s session.
RSS = Return Since Start | YTD = Year-To-Date | QTD = Quarter-To-Date | AAR = Average Annual Return
Meanwhile in Japan
Tantan-men (担担麺). Japanese version of dan dan noodles, a Sichuan specialty. Ramen in a reddish, spicy chilli and sesame soup, usually containing minced pork, garnished with chopped scallion and chili and occasionally topped with the likes of spinach or Bok Choi (chingensai). — Wikipedia
Location: ‘Food Park’ at AEON Mall Hiroshima Fuchu.
Price: ￥680 ($5.99).
Served in: 4 minutes.
Tastes like: nothing René ever had before in any Western restaurant for this price (let alone served that quickly).