By Lucian Miers | Friday 17 December 2021
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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.