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Strategies & Market Trends : Bear!

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From: Sean Collett	11/22/2023 5:01:45 PM
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My bear sense has continued to grow as I see more bull optimism; more and more charts & TA are out there showing how the market is going to be testing ATH. Yet today China's largest shadow bank warned it is severely insolvent. Zhongzhi Enterprise Group Co. has debts of about 420B yuan compared to 200B yuan in assets. ECB came out today and stated that their shadow banks are at risk of margin calls. At this time I am only holding Qurate, since that was the only stock I held at a loss and have a 3 year hold target, and have now opened puts specifically on small-caps. Outside of this, I am sitting on the largest amount of cash I have in a while as I now watch and see where the market goes. 438 US stocks have a PE of > 50. Amazon for example has a PE of 76, P/FCF of 89.6, quick ratio of .74, and a D/E of .84. Shiller P/E is up and sitting at 30.84 The level of overvaluation is pretty insane and seeing how the market has responded in November is nothing but pure silliness. There was a rush into the theater and I can see a rush out if there's any sign of fire. Is anyone else looking at the market as I am? Curious on others thoughts and what strategies they may be moving with. -Sean

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