This is stunning. At the peak of speculative fervor in February, small traders bought to open 7.5 million call contracts. This week, they bought 12.1 million. Bubbly all around.

This is stunning.
At the peak of speculative fervor in February, small traders bought to open 7.5 million call contracts.
This week, they bought 12.1 million.
Watch what people do, not what they say. They're full-bore bullish, on steroids. pic.twitter.com/T1v74xq1Of
— SentimenTrader (@sentimentrader) June 6, 2020

Bubbly all around.
Highest % of members above 70 RSI since Volmageddon.
Highest number of S&P 500 stocks above their 50-day moving average in 2 decades.
Strongest 50-day rally in history.
Record valuations across the board — large, mid & small caps. pic.twitter.com/wrKBIBkaAT
— Otavio (Tavi) Costa (@TaviCosta) June 5, 2020

sentiment check: friend texting to ask if he should buy $HTZ shares
— Jamie Powell (@ajb_powell) June 5, 2020

"The gap between fantasy and reality is even greater than it was in the late 1990s just before the https://t.co/5yYRocfrNZ bust that saw stock valuations collapse by 50%, to turn the fictitious into the real."@EricRosengren @RobSKaplan @neelkashkari @marydalyecon @RaphaelBostic pic.twitter.com/0jSRVqgVUK
— M/1_LP (@MI_Investments) June 6, 2020

Leading up to 2008, we had garbage mortgage backed securities (derivatives) that were packaged into additional derivatives & yet again into the dreaded CDO-squared. Today, we have fake news headlines packaged into layers of hopes just used as cover for a mania funded by the Fed.
— John Tuld (@BradHuston) June 6, 2020

https://twitter.com/jedimarkus77/status/1268999847811649538

“There’s a lot of denial here, as there was in the 1930s…The actions the government took were not adequate to the scope of the problem, yet they were very quick to say there had been a turnaround.” https://t.co/JnmVpmitD2
— Lisa Abramowicz (@lisaabramowicz1) June 6, 2020