10 December 2020

Stocks and Precious Metals Charts - IPO Mania May Be Marking Another Stock Bubble Top


"The only function of economic forecasting is to make astrology look respectable." 

John Kenneth Galbraith 


Stocks were dragging in the early going overnight. 

But lo and behold, AirBnB brought out its IPO and scored a fabulous opening price over the initial offering. 

And so tech once again led the exuberant way. 

This looks like late stage bubble action. 

There will be a quad witch option expiration next week, just in time for a Santa Claus rally. 

Or is it Santa Fed? 

Gold and silver were running hard but then were smacked down in the early NY going. 

They did manage to take some of that back off the lows, but finished a bit off. 

The Dollar lost the 91 handle, again. 

Light action with plenty of trading gimmicks. 

Have a pleasant evening.