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Category: Dr. Duke's Blog
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The bull market continues in spite of all of the negative news being headlined. It seems like all of the headlines are focused on negatives, intending to drive us all into depression. The Standard and Poors 500 Index (SPX) opened at 2854 this week and closed at 2875, up 0.7% this week alone. SPX gapped open higher this morning, underscoring the bullish mood of the market. That was the second gap opening higher this week. Volatility remains relatively low at 12%, as measured by the VIX. Open a price chart on SPX from November, 2016 to the present and ask yourself, why am I surprised by this incredible chart?

I am at the MoneyShow in San Francisco and I must say this may be the best financial conference I have ever attended. I heard talks today by Jim Rogers, the famed hedge fund manager, Tom Sosnoff, of TastyTrade fame, and Gene Simmons, who I knew best as a member of the rock band, KISS. Gene Simmons stole the show. He encouraged the audience to have the courage to follow their dreams; he suggested each of us should strive to be a "psychopath with a conscience". The idea was to not be constrained by the norms or rules of business and/or society, but to have a conscience, i.e., don't hurt anyone. Simmons appears to relish negative labels such as brash, insolent, and irreverent. He believes that much of his success in multiple businesses is due to his willingness to entertain ideas that some would regard as crazy.

One of his current investments is a cannibus business in Canada (Invictus MD, ticker IVITF), starting up just as Canada is legalizing all marijuana. The irony is that Gene doesn't smoke, drink or do any drugs, including marijuana. His focus is on the medical applications of cannibus. He told some incredible stories about the positive medicinal effects, e.g., relieving epilepsy in children. His talk was also an extremely bullish presentation on the freedoms we have in this country that enable all of these business success stories. Simmons is very critical of the typical American's focus on leisure time and an unwillingness to work hard to succeed. One of his interesting anecdotes was to observe that we have two days off every week, or 104 days per year - he asked us, what have we accomplished with all of that time?

The presentation by Jim Rogers and Tom Sosnoff's interview of Gene Simmons were recorded and will be available on the MoneyShow web site in about a week. I encourage you to be sure and watch. It will be worth your time. And reporting from the minor leagues, my presentation, Options Don't Have To Be Risky, was also recorded and I think you will find it worthwhile.