Here’s a headline you only see during a bull market:
This is from the article:
“It’s a new way of making money,” Nova told Fortune. “New possibilities for people: that you don’t have to, in this day and age, work as hard. Work smarter, not harder.”
Following the stars has worked out for Nova. She quit her job as a tarot reader and astrology consultant this year to day-trade, finding it a more consistent stream of income and earning about $5,000 a month. But that doesn’t mean it’s a good idea for everyone, one expert warns.
Young people quitting their jobs to day trade. Using astrology to make stock picks. Pffft.
This is the point where the grizzled market vet is supposed to say I’ve seen this movie before and I know how it ends.
Yeah, this is bull market behavior to be sure. You don’t see these kinds of stories when the market is going down. Contrarian indicators aren’t hard to find right now if that’s how you view the markets.
Bull markets are a breeding ground for bad habits. It’s easier to get lucky during a bull market. You begin to believe you’re a genius because everything you buy goes up.
But this happens during every bull market. There are always people who believe they can day trade their way to millions who end up blowing themselves up.
This is a story as old as markets.
There are also positive externalities from this bull market. This is from that same article:
Of course, the desire to control their uncertain future is one of the major reasons why Gen Z has fallen in love with investing in the first place. Driven by the fear of missing out and determination to escape the corporate rat race, over 70% of the generation owns
