Dow Tops 19,000 As Small Caps Panic-Squeeze To Longest Winning Streak In 20 Years
by Tyler Durden
So to summarize: Stocks are at all time highs on a Trump plan that nobody has any clue what it will be like; and oil is surging on an OPEC deal that earlier today was not happening, but which Iraq is now happy about, implying it won’t have to cut and Saudi Arabia will throw up over everything…
On the day, stocks opened higher then rolled over into the European close before surging higher for the rest of the day… and then Complete and Utter panic buying in the last few minutes of today…
Dow 19k…
S&P 2,200…
VIX was pushed lower once again to try to ensure the big figures for the Dow and S&P…
Russell 2000 up 13 days in a row – the longest streak since February 1996… (so much for the random walk)
For those thinking about “valuations” – silly-billies…
And the less aggressive EV/EBITDA shows Small Caps trading at double their ‘norm’ valuation…
The last time all the major indices closed at record highs on the same day (apart from yesterday)…
Which deserves its very own video…
TLB recommends you visit ZeroHedge for more pertinent articles.
About the author Tyler Durden
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