This is the daily notebook of Mike Santoli, CNBC's senior markets commentator, with ideas about trends, stocks and market statistics. Stocks try to shake off a mild post-options-expiration morning hangover to gain a bit of traction, but the tape remains wary of bond yields hitting new highs ahead of an expected hawkish Federal Reserve decision.
2x forecast earnings, with all the apparent overvaluation still clustered in the huge-cap growth stocks represented by the Nasdaq 100 still trading at 21x, the very high end of its pre-pandemic range. The Fed on Wednesday will clearly want to continue pressing its case that whenever short-term rates get to their destination they will stay there for some prolonged period.
michaelsantoli Oversold at 3900? Oversold at 3600?
michaelsantoli LOL, hilarious
michaelsantoli Oversold? Lol we should have been at 52 week lows months ago, I expect new 52 week lows before mid October 😅 😄
Buy the dip santoli. Thats what the Bulls do, thats why men have all the wealth.