Not everything, some of the small and mid-caps are under priced actually, and much better buys than playing musical chairs with Amazon and Apple and Nvidia, but the Big Seven certainly are, and they're sucking money up like a vacuum cleaner, ridiculous P/E ratios. there are a few solid buys out there with low better than average P/E ratios and revenues, and higher than average volatility as the options traders go back and forth; I've picked up some decent bargains the last few weeks. I'm at the point where my main account is nearly solid and could care less about the price fluctuations now, and only have a small cash position left to play with, less than 3% of that account.
Just 7 companies make up over 25% of the markets, and another 20 or so make up another 20%-25%, so they have a large influence; they don't reflect the real economy at all, so I pay little attention to the averages; they're just that, averages.
