Overdone

It's not often that I get something right, but I did say yesterday regarding the proposed increase in capital gains taxes over $1m that:

"I suspect the resulting drop in the markets was an overreaction"

And sure enough, the S&P rose by more than 1% to close near its all-time high.

Charles Schwab's chief fixed income strategist Kathy Jones may be a reader of this blog, as she commented:

"I think the immediate reaction was probably a bit overdone."

Just a bit. She did go on to make the point that with the index close to a high:

"I think at the moment, when you have very high valuations in the market, anything that is bad news can spark a bit of a sell-off."

She thinks a lot, which is good, but sometimes you can overthink these things. 

With just five trading days to go this month, April is currently my third best month ever with $TSLA back above $725 and despite my Bitcoin investment being rather poorly timed. Its day will come, and if anything, the recent pullback presents a buying opportunity.

As for sports investing, April has been excellent for the NHL System which is currently on a six game winning streak and a 29-10 record for the month and an ROI for the season now at 18.6%.

The NBA Overs System has had no selections for the past two days, but with six winners from the last seven, this too is having a positive month with a 13-7 record and a season long ROI of 24.9%.

In other news, I mentioned that I uncovered a few years worth of unpublished comments recently. While many were spam and have been deleted and others were time sensitive and thus pointless to address now, I do plan to trawl back through them and post where it seems appropriate to do so.