iT'S tHe NeW BuLL mARKeT, eVErYBody...Until It Isn't

Today's Watchlist: SPXU, TQQQ, OXY, DVN, MOS [Image](   [ARCHIVES]( [REPLAYS]( [WATCH LIVE]( [Twitter]( [Youtube]( [Instagram]( [Tiktok]( [Discord]( [LinkedIn]( Bloomberg says you need AT LEAST $3 million to retire… I think I’m on track to double that. [See how I’m doing it here](.   March 06, 2023 Dear Reader Good Afternoon, Two things are significant about what happened today in financial history. In 1926, the legendary Alan Greenspan was born. He went on to become the Chairman of the Federal Reserve in the 80s and oversaw the dot com bubble. And on his 74th birthday, March 6th, 2000, he delivered a pivotal speech at Boston College. I distinctly remember this speech because a year and a half later, James Grant wrote a compelling piece called "Blame Greenspan," released just eight days before the 9/11 attacks. Greenspan's speech was titled "[The Revolution in Information Technology]( and it was critical for several reasons. Firstly, Greenspan had been warning about expensive stocks for the previous three years, even though nobody was listening. He emphasized that we had veered away from reality, but nobody was paying attention. Back in 2000, the dot com bubble saw a surge in market valuations, with the price-to-earnings model reaching unprecedented heights. It was a time when people were focused on stocks trading at outrageous price-to-sales ratios, ignoring the fact that companies were unprofitable. The infamous names of that era, such as pets.com, traded at sky-high prices. Sound familiar? However, Greenspan remained steadfast and repeatedly emphasized the importance of fundamentals, saying that they mattered, they mattered, they mattered. But the markets were too caught up in irrational exuberance, with many investors betting on things to move higher without considering the underlying fundamentals. And that's where we find ourselves again today, with retail focusing on hype and momentum without regard for fundamentals. Now, why is Greenspan's speech so crucial? Because he pointed out that high equity values and declining prices of hi-tech equipment had reduced the cost of capital, leading to a surge in capital spending. He believed that businesses were still finding possible high rates of return in productivity-enhancing investments and that there was no sign of this trend ending soon. But he was wrong. Just four days after his speech, on March 10th, the NASDAQ peaked and began the worst market crash since the Great Depression. So, remember, history doesn't repeat itself, but it sure does rhyme. And [we see the same patterns]( repeating themselves today with Nvidia (NVDA), which is currently trading at a price-to-earnings ratio of 137 and a price-to-sales of 21.35, hitting a new high of 240. Of course, many people believe Nvidia can fly because iT'S tHe NeW BuLL mARKeT, and everyone is back in the game. But as Greenspan's speech has shown, it's always prudent to pay attention to the fundamentals, as they do matter in the long run. Talk Soon, Garrett {NAME} Did you miss the show? No worries, we’ve got you covered.   [America’s #1 Shell Game - Exposed]( A new bill by Joe Biden has evolved into one massive shell game that’s got all of America fooled – well, almost all of America. Shah Gilani is here to show you what this so-called “public reform” really means. [Hear what he’s got to say.]( REPORTS   [Welcome to Momentum]( [Trading Momentum]( [Trading Fundamentals]( [Trading the Fed]( [Trading Insiders]( WATCH REPLAYS   [America’s]( Now on Sale]( America’s #1 Pattern Trader, Tom Gentile, is tracking three economic catalysts that just merged – creating a 10X trading opportunity. Investors have paid thousands for this intel… But you can get started with nearly six times LESS. But soon – this Darknet offer will end, removing today’s [95% off entry rate.]( [Watch the Show!]( [Sneak A Peek Inside Flashpoint Trader](       You are receiving this e-mail at {EMAIL}, as part of your subscription to Midday Momentum. To remove your email from this list: [unsubscribe here]( Please do not reply to this email as this address is not monitored. To cancel, or for any other questions or requests, please contact our Customer Service team: Online: [Customer Service Form]( Phone: 888-384-8339 (North America) 443-353-4519 (International) Mail: Midday Momentum | Attn: Member Services | 1125 N Charles Street | Baltimore, MD 21201 Fax: 410-622-3050 Our Customer Service team is available Monday ­ Friday between 9:00 AM and 5:00 PM ET. © 2023 Money Map Press. All Rights Reserved. Nothing in this email should be considered personalized financial advice. 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