Remember the BW-SSO bubbles of the late 90s and the new millennium?
If I am not mistaken, there may be multiple episodes of the same dynamics at work today…
These stocks have been experiencing total vertical runups. (Of course, such are always rationalized) Yet there have been minor ones too
To recall, BW and SSO occurred during the bear market phase (1998-2002) of the 1986-2002 secular cycle. In those days, speculators were nostalgic over the lost speculative credit finance price chasing hunt of the mania phase. And that they found these issues as objects to vent on their wistfulness.
Perhaps the past may be seen in similar shades today.
Current events exhibit signs of the conspicuous shift of extreme market speculations from the majors to the third liners.
I’d call this the season of the third stringers/liners
Yet such a shift hasn’t been symptoms of healthy price actions but of a terminal blow off phase.
This adds to the string of evidences of the grasping at the straws or of the frantic attempts to reinstitute the glory of the old days.
Oh, have you seen yesterday’s awesome 'mark the close'?
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