Stay safe out there, folks.
Remember the Tech Bubble?
If we include Facebook, Amazon, Netflix & Google, the tech sector now weights a record of 37% of the S&P 500!
Meanwhile:
Aggregate sales for the sector make up only 10% of the index.
Precisely the same % it was in 3/2000. pic.twitter.com/lJfklfp2NF
— Otavio (Tavi) Costa (@TaviCosta) July 18, 2020
$amzn now up $87B today
thats almost a whole Blackrock
more than a Goldman Sachs
or an American Express
or a Starbucksmore than 467 of the SPX 500
— G Stockus🇨🇦 (@beatlesonbankin) July 20, 2020
sentiment check pic.twitter.com/4RQvPIpthf
— Myles Udland (@MylesUdland) July 20, 2020
Actually 1 analyst and 1 analyst in particular. https://t.co/19130SWucu
— Dave Portnoy (@stoolpresidente) July 20, 2020
Since investors have no idea where to put their money in the current environment of recession, weak earnings, soaring budget deficits, rapid money printing, and social unrest, they're buying over-priced momentum stocks by default. The smart money is buying #gold & #silver stocks.
— Peter Schiff (@PeterSchiff) July 20, 2020
Incredible day for the big winners. $AMZN $TSLA $WCLD $ZM $PTON just all going nuts https://t.co/CpynBiZNla pic.twitter.com/HCdRZVoDZK
— Joe Weisenthal (@TheStalwart) July 20, 2020
I had my niece asking me what stocks she should buy because her friends are making 30% a day. Everyone is a genius in a bull market – @mcuban to CNBC on retail traders right now.
— Jay Yarow (@jyarow) July 20, 2020
EQUAL WEIGHT NASDAQ 100 NOT GOOD pic.twitter.com/yhdCfXNZeb
— Win Smart, CFA (@WinfieldSmart) July 10, 2020
Nasdaq 100 up 2.9% today
Equal-weight S&P 500 down 0.5%Last time that happened was April 2001
— Sarah Ponczek (@SarahPonczek) July 20, 2020
"On a bigger picture it's so similar," says @mcuban on why this market reminds him of the 1999 tech bubble. "Everybody is a genius in a bull market and everybody is making money right now because you've got the Fed put." pic.twitter.com/Dxg5g3SSAL
— Squawk Box (@SquawkCNBC) July 20, 2020