US Markets Remain Fragile under the Surface: 3 US shorts to bang out today

Last week I suggested that it might be time to look at shorting some names in the US as it seemed that the markets were at last showing some signs of fatigue. Since then the indices have risen, lead by a small group of mega caps not least Apple which made the 3 trillion mark for the first time. Under the surface however there has been a fair amount of turbulence, with meme stocks Gamestop and AMC being particularly hit and even the posterchild of insanity which is Tesla remaining under pressure. Not even Bitcoin has been spared. I stated that, as was the case in the dotcom reckoning in 2000, many companies will lose 90% of their value with a fair few going all the way, and I firmly believe that the reality check for this bubble is not far away.


Has the time for sanity in the US markets arrived?

Although the S&P 500 index is still around all time highs, there have been some savage declines of late in certain names and 275 stocks are lower now than they were six months ago. This suggests to me that the health of the US markets is much more fragile and precarious than the level of the three main indices implies.

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