Excerpt from Bloomberg quoting DataTrek co-founder Nick Colas:
…. “To Nicholas Colas, co-founder of DataTrek Research, the day-trading crowd still remains conspiciously bullish. He notes elevated buying interest Monday in stocks from Tesla Inc. to ProShares UltraPro QQQ (TQQQ), a fund that aims to treble the daily performance of the Nasdaq 100.
“We’ve seen too many times when a quick flush does not sufficiently reset either valuations or risk appetites during periods of rising uncertainty,” Colas wrote in a note. “We remain cautious near term on US/global stocks”….
Read the full article here on Bloomberg!