Is the Stock Market’s Rally Reminiscent of 1999?

Is the Stock Market’s Rally Reminiscent of 1999?

Posted On June 5, 2020 2:51 pm

Millennials have been blamed for killing industries ranging from napkins to beer but they might be what has saved the stock market. Whether this proves to be savvy remains to be seen. A couple of weeks ago I warned how Barstool Sports founder David Portnoy, having become the face of a new breed of day traders, might be leading down a dangerous path of thinking stocks only go up and making money in the market is easy.

Well, so far Davey Day Trader and his merry men with Robinhood accounts have been making out like bandits. Data shows that not only did the activity of retail trading surge during the past two months, some of which was a function of being stuck at home with cash stipends coming in combined with across the board drop to zero commissions.

small trade share volume 2020

And they were not… Continue reading at StockNews.com

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About author

Steve Smith

Steve Smith have been involved in all facets of the investment industry in a variety of roles ranging from speculator, educator, manager and advisor. This has taken him from the trading floors of Chicago to hedge funds on Wall Street to the world online. From 1987 to 1996, he served as a market maker at the Chicago Board of Options Exchange (CBOE) and Chicago Board of Trade (CBOT). From 1997 to 2007, he was a Senior Columnist and Managing Editor for TheStreet.com, handling their Option Alert and Short Report newsletters. The Option Alert was awarded the MIN “best business newsletter” in 2006. From 2009 to 2013, Smith was a Senior Columnist and Managing Editor for Minyanville’s OptionSmith newsletter, as well as a Risk Manager Consultant for New Vernon Capital LLC. Smith acted as an advisor to build models and option strategies to reduce portfolio exposure and enhance returns for the four main funds. Since 2015, he has worked for Adam Mesh Trading Group. There, he has managed Options360 and Earning 360, been co-leader of Option Academy, and contributed to The Option Specialist website.

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