1. The Euro is plunging on the election results.

2. “Positioning is full.”

“At present, a Trump victory and the positive market reaction have become increasingly widely expected, and investors are already long equities” write JPMorgan strategists.

3. Mike Wilson, the biggest and last bear on Wall Street and Morgan Stanley's Chief Investment Officer, just put on his bull hat!

Is that a good sign?

4. Consensus is very optimistic, looking for double digit EPS growth in 2025 AND 2026!

5. The S&P500 at 22x P/E is “stretched”.

Let’s have a look at past recessions and the shift in P/E valuation.

6. Super Micro, the server maker, is down another -18% after hours and over -80% from its recent all time high.

“The board found no evidence of fraud, but still no timetable for reporting results.”

Management reiterated its “deepest of relationships” with Nvidia, saying that demand is strong and its capacity is ready.

Not a subscriber yet?