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 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/I_Investments (@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.

— Brad Huston (@BradHuston) June 6, 2020

"I'll let you know when we've pushed it too far…" pic.twitter.com/V4XR9HKsFS

— Jedimarkus (@jedimarkus77) June 5, 2020

“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.” t.co/JnmVpmitD2

— Lisa Abramowicz (@lisaabramowicz1) June 6, 2020

The Fed is nothing more than a propaganda machine, using announcement effect to force people in to buy risk assets and help prop up our corporate socialist economy that cares little for workers. They need people to spend money they don’t have for the eco to “grow.” There is no..

— craig shapiro (@ces921) June 6, 2020

Microsoft was a great company in 1999. $MSFT was still a great company in 2017 – it would take you 18 years for you to break even if you bought it in 1999. Valuation, the price you pay matters even for a great company. pic.twitter.com/Z0f8jwz2A5

— Vitaliy Katsenelson (@vitaliyk) June 5, 2020

DO SMALL BUSINESS CLOSURES LOOK V SHAPED? pic.twitter.com/ANKMHoeNmM

— Win Smart, CFA (@WinfieldSmart) June 4, 2020