Silver Soars As Turbocharged-Tech Sends “Greed’ To Record High

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Silver Soars As Turbocharged-Tech Sends “Greed’ To Record High

Tyler Durden

Mon, 07/20/2020 – 16:01

SSDD!! More vacuous vaccine headlines and a spurious tech stocks upgrade sent a message to the bears (for today)…

[youtube https://www.youtube.com/watch?v=YhkNLHictW8]

After a brief pause at the end of last week, buying big tech stocks is back on the agenda, with Nasdaq massively outperforming today…(NOTE how linear today’s rally was)

Source: Bloomberg

And as Nasdaq surged, Small caps underperformed, reversing much of last week’s “reversal”

Source: Bloomberg

This has sent Bloomberg’s Fear-Greed indicator to its highest ever – above March 2000’s previous peak – and as @C_Barraud notes that these highs contrasted with a plunge in March that produced record weekly lows, surpassing those in December 2018 and May 2000.

Source: Bloomberg

The surge in tech was sparked by a Goldman and Jefferies upgrade for AMZN…

Source: Bloomberg

…erasing FANG stocks’ losses from Friday… (despite Goldman warning that all the big tech valuations are massively expensive)

Source: Bloomberg

And TSLA back to its old tricks…

Source: Bloomberg

Treasury yields ended the day marginally lower but bonds were sold from

Source: Bloomberg

Treasury vol has tumbled near record lows…

Source: Bloomberg

The dollar dropped back to its recent range lows…

Source: Bloomberg

Crypto weakened into the cash equity close today but held gains barely from Friday…

Source: Bloomberg

Commodities were all generally higher on the day with silver dramatically outperforming…

Source: Bloomberg

Silver futures topped $20 for the first time since Sept 2016…

Source: Bloomberg

Finally, just saying…

Source: Bloomberg


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