Why the emergence of a super bull market is not very realistic, let alone a bull market that never looks back?
1. The increase in U's issuance does provide a lot of liquidity, but this process takes time. The Federal Reserve's interest rate cuts and balance sheet reductions are also gradual, so the release of liquidity is limited.
2. Institutional buying is indeed a positive signal, but institutional buying behavior does not represent the actions of the main players. The main players may operate more discreetly, such as secretly offloading to these institutions at scattered addresses.
3. The buying behavior of giant whales also cannot represent the actions of the main players. Although the number of new giant whales has surpassed that of old giant whales, forming a new fundamental, their nature is still profit-driven. They may change their tactics, but it is unlikely that they will forcefully push up prices without regard to the fundamentals.
In summary, without a complete improvement in the financial environment, one should not blindly follow the trend. Always pay attention to market dynamics and changes in fundamentals to make rational investment decisions.
