As I noted the other day, rather than call this a 'stock bubble' it would probably more correct and natural to call it a 'ponzi scheme.'

Bubbles tend to masquerade as acts of God or the madness of crowds.

The only madness of the crowds recently has been to trust in the same old schemes from the usual gang of con men and their mouthpieces.

Stocks did a pop and flop.

One of these days that sort of flop is going to translate into a swan dive.

The SP 500 and a couple of name stocks are doing all the heavy lifting.

I suspect that insiders are handing off their gains to mom and pop, and their institutions.

Capital is rushing heedlessly into opaque risks and is readying itself to be consumed.

Gold and silver were hit hard and early, for no particular reason.

They recovered much of their losses into the close.

The Dollar chopped sideways.

Keep an eye out for the GDP print for the 3rd quarter on Thursday. 

Have a pleasant evening.

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