“The second factor contributing to speculative euphoria and programmed collapse is the specious association of money and intelligence.
There can be few fields of human endeavor in which history counts for so little as in the world of finance.”
John Kenneth Galbraith, A Short History of Financial Euphoria
"I'll give you the bottom 10% and the top 10% of any move if I get to keep the middle 80%."
Bernard Baruch
“Big movements take time to develop.”
Jesse Livermore, Reminiscences of a Stock Operator
Stocks were on a tear today with the SP 500 and the Nas100 setting new highs.
The big cap techs were leading the way.
Gold and silver rallied strongly as well, running up to the overhead resistance that marks the top of the current trading range.
The Dollar was off a bit.
Despite very good economic news Treasury yields were off a bit.
This was the major catalyst for the rally.
Tomorrow will be the option expiration.
Stocks look extended. They can get even more extended.
Have a pleasant evening
