Agreed. Definitely driven by fear of missing out due to sharp rise in certain AI stocks. 

Stock Market Melt-Ups End When Everyone Believes In Them - We Are There Now

Henrik Sorensen All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident. - Arthur Schopenhauer, Philosopher. Instagram A melt-up is a sudden and often unexpected surge in investment performance, driven more by a herd mentality of investors who don't want to miss out on the rising market rather than actual, fundamental improvements in the economy. I have been consistent all year in arguing that because we are in a pre-election year, this likely would be a strong stock market despite all the negative narrative to start the year, but that at the same time, a credit event is looming. Are we in a melt-up?
Stock Market Melt-Ups End When Everyone Believes In Them - We Are There Now

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