📊This Indicator Suggests Stocks Are More Overvalued Than the Dotcom Peak

Good morning. With the stock market down heavily over the past 10 months, there are some...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. With the stock market down heavily over the past 10 months, there are some relative bargains now. But looking at overall market valuation, we still look a bit expensive. In fact, by some measures, we're still incredibly overpriced, even compared to the stock market in 2008 or the dotcom peak in 2000. One such indicator is the stock market's total capitalization relative to gross domestic product. Dubbed the "Buffett Indicator" as a preferred measure of valuation by Warren Buffett, it has a current reading of 2.44. Historically, that's high, with the dotcom peak hitting just 2.11. And that's after the market has been moving down for the better part of a year. Today's investors and traders alike can look at this as another piece of data that we're not out of the woods yet, and we may see some downside pressure in the coming weeks. Now here's the rest of the news: Sponsored Content Millions of families could lose their homes as a result… This could leave a greater impact than ANY U.S. recession in history… And, perhaps, a once-in-a-lifetime opportunity for smart investors. Former $700 Million hedge fund manager Jeff Zananiri has just set down to expose EVERYTHING… And he says nothing he's ever done in the past holds a candle to what he has to share today. Because what he's uncovered could be one of the biggest downfalls of our nation's history… We're talking about a catastrophic event... Nothing he's ever done comes even close to this opportunity. MARKETS DOW 30,706.23 -1.01% S&P 3,855.93 -1.13% NASDAQ 11,425.05 -0.95% *As of market close • Markets moved lower on Tuesday, at the latest Fed meeting got underway. • Oil dropped 1.8 percent, closing at $84.19 per barrel. • Gold dipped 0.3 percent, last going for about $1,674 per ounce. • Cryptocurrencies trended lower, with Bitcoin at $19,013 at the stock market close. Today's TOP TIPS Continue to Add Defensive Names in Today's Market The stock market will always be volatile. In today's environment, big daily swings have been the norm. For investors who are using those swings to pick up quality companies at a reasonable price, they'll be rewarded on top of any trading income as well. Right now, markets are fearful over a potential decline in corporate earnings. That's already been the case for a few quarters, but high energy prices this year are causing higher prices in everything from electrical generation to shipping costs. » FULL STORY Insider Trading Report: Comstock Resources (CRK) M. Jay Allison, Chairman and CEO of Comstock Resources (CRK), recently picked up 50,000 shares. The buy increased the CEO's holdings by 3 percent, and came to a total price of $975,000. A company director also picked up 14,000 shares on the same day, increasing their stake by about 10 percent with a $254,000 buy. Three other company directors have been buyers in the past three months. » FULL STORY Unusual Options Activity: Roblox Corporation (RBLX) Shares of metaverse gaming platform Roblox Corporation (RBLX) are down nearly 50 percent in the past year on a drop in tech stocks. One trader sees the potential for a jump higher in the coming days. That's based on the October 7th $45 calls. With 16 days until expiration, 4,847 contracts traded compared to a prior open interest of 155, for a 31-fold increase in volume on the trade. The buyer of the calls paid $0.51 to make the bet. » FULL STORY IN OTHER NEWS • Home Construction Rises More than Expected Housing starts rose more than expected for August, hitting a seasonally-adjusted 1.58 million. That's more than the 1.45 million expected by economists, and higher than the 1.4 million for July. However, permits fell to 1.52 million from 1.69 million in July, a sign that future construction is on track to slow. • Sweden's Central Bank Raises Interest Rates 100 Points The Riksbank, the central bank for Sweden, has raised interest rates 100 basis points, or 1 percent. The bank has cited high inflation in Sweden, and is looking to further raise interest rates in the coming months to bring down inflation. The bank now has a 1.75 percent interest rate. • Investors Shift to Hedge Funds With high market volatility and big daily swings, investors are turning to hedge funds as a way to protect and grow their wealth now. The interest in hedge fund investments comes after years of underperformance over the past decade, when markets were less turbulent. • "SPAC King" Closing Two Funds for Lack of Deals Venture capitalist Chamath Palihapitiya, dubbed the "SPAC king" for his role in putting together a number of successful Special Purpose Acquisition Companies, is closing down two SPACs. The move comes after no deals could be struck within the two year window that SPACs have to close a deal and merge with a private company. • Ethereum Drops After Merge Ethereum (ETH-USD), the second-largest cryptocurrency by market cap, has dropped nearly 17 percent since it completed its Merge. The Merge shifted the crypto from a proof-of-work system to a proof-of-stake system. The drop has occurred as the overall cryptocurrency market has been dropping lower. S&P 500 MOVERS TOP TCOM 3.673% WYNN 3.111% EXPE 2.771% VLO 2.675% AZO 1.916% BOTTOM F 12.09% IRM 9.354% GNRC 6.98% ETSY 6.486% WY 5.897% Quote of the Day We're in a wait-and-see approach and markets are waiting for some kind of bullish or bearish catalyst to send us out of this trading range. The markets are struggling for direction and that's the fundamental news. - Adam Sarhan, CEO of 50 Park Investments, on why markets are likely rangebound until further economic developments point to how the economy is faring in the days ahead, with this week's Fed meeting as the earliest potential catalyst for a big market move in either direction. Sponsored Content Millions of families could lose their homes as a result… This could leave a greater impact than ANY U.S. recession in history… And, perhaps, a once-in-a-lifetime opportunity for smart investors. Former $700 Million hedge fund manager Jeff Zananiri has just set down to expose EVERYTHING… And he says nothing he's ever done in the past holds a candle to what he has to share today. Because what he's uncovered could be one of the biggest downfalls of our nation's history… We're talking about a catastrophic event... Nothing he's ever done comes even close to this opportunity. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! We are dedicated to teaching people how to make the world a better place so we can all thrive, together. 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