In the last almost 30 years, the number of times there's been at least 7% of stocks making a 52-week low when the S&P 500 was at a 52-week high: Two
Investors have never used this much leverage:
US margin debt surged +$83 billion in April, to a record $1.3 trillion.
Over the last 12 months, margin debt has risen +$453 billion, or +53%.
As a result, margin debt is up to a record 5.2% of US GDP.
This is ~3 percentage points above both the pre-2008 Financial Crisis level and well above the 2000 Dot-Com Bubble peak.
Market leverage is through the roof.
Most traders think becoming profitable is some massive transformation
It's not
You don't suddenly become smarter
You don't unlock some secret edge that unprofitable traders don't have
You just stop taking trades you shouldn't be taking
You stop tilting after a loss and doubling down trying to make it back
You stop letting your emotions make decisions that your brain should be making
That's it
The market didn't change
Your strategy didn't change
YOU just stopped getting in your own way
The gap between an unprofitable trader and a profitable one is almost never skill
It's self-control
So, again, this is just shouting into a void.
But this is the most new lows within the S&P 500 $SPY on a day the index poked above a prior all-time closing high.
Ever.
Like EVER, ever.
THE MAN WHO CALLED EVERY CRASH IS DOING IT AGAIN
Last time he talked like this, Nasdaq crashed 75%
Took 12 years to recover
Dotcom 1999: "Euphoria is the enemy"
AI Bubble 2026: "Never seen people in a more gambling mood"
Same words, different decade, same ending incoming
Berkshire is sitting on $397 billion in CASH right now
Not stocks, not assets, not crypto
Follow me - I'll keep you updated on everything here
BREAKING: We have obtained further information as Iran considers taking control of 7 undersea internet cables in the Strait of Hormuz.
Details include:
1. Under the new policy, “foreign operators�� would be required to obtain permits to use these cables
2. This would include paying fees and following Iranian law
3. All management and maintenance would be handled by Iranian companies
4. The IRGC has previously warned it could target these same cables
These cables are critical for data traffic between Europe, Asia, and the Gulf.
Look, I know none of this stuff matters anymore. But my G*d.
This will be the 4th time the S&P 500 $SPY has hit a record high while 5% of its members fall to 52-week lows.
1. July 1929
2. January 1973
3. December 1999
4. Today
⛔️Here’s a crazy chart to chew on.
Btwn March 2000- Sept 2002, Nasdaq fell 83.6% from Dotcom peak to bottom
83.6% below Nasdaq today lands EXACTLY back at the Dotcom peak.
Coincidence? 😅
The S&P 500 $SPY rallied at least 0.25% to a new high.
Not even 40% of its stocks rose on the day.
This has happened two other times since 1962. LOL, make of it what you will.