I'm not a sophisticated trader. I don't even think I'm that smart or anything, but from what I do know, you can typically tell when a company is overvalued ( except some extraordinary situations like with TSLA ) by looking at their PE ratio. And yeah, we were way overvalued at the start of the year, but now? Maybe I'm wrong, but this looks like a bottom to me. I mean, it could go down more, but that would be in ''oversold'' territory if this earnings season goes well.
SPY's PE levels in the past 5 years, seems about right to me
If you disagree with me, please tell me why?
My position: All in on FNGU
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