The Russell 2000 small cap and Nasdaq just reached new record highs . Totally unconfirmed by all things real.
This moment is courtesy of Etraders desperate to throw their life savings away on profitless biotech stocks, ahead of the collapse
A slight divergence
Biotech versus Railroads: Percentage gain since the 2009 bottom:
"The light that burns twice as bright burns half as long, and you have burned so very very brightly"
The growth / value ratio is spiking
It's called "distribution"
The process by which institutions dump stock onto the final bagholders
Nasdaq up volume / total volume
The Nasdaq's monthly new highs versus Y2K
Speaking of Revenueless IPOs
Today's top performing stock is a revenueless Biotech of course
Who is going to buy the unwinding of all of this excess?
That would be no one.