February RISK ON

As I said on Wednesday, this casino is on fire.

For some reason, markets simmered in January and then went parabolic in February. Nvidia was only the 3rd best performer in the S&P 500. Ironically, the top two performing stocks were not AI related: 1. Constellation Energy and 2. Ralph Lauren.

Bulls don't seem to have any trouble making sense of a rally that magically jumped the shark from AI to Utilities this week.

Among small and mid cap growth stocks things were much frothier.

Screening for stocks with market cap > $750 million that were up > 50% in the past four weeks yielded 33 stocks. Microstrategy of course was on the list, up 67%. Super Micro Computer gained 65%. Arm Holdings (semiconductors) up 90%. Coinbase up 50%. However, most of the top performers were not AI or crypto stocks they were Biotech stocks which are equally speculative.

One stock that tripled this week is a company called Viking Therapeutics. They have apparently cured obesity so they may as well be printing Bitcoins.

Notable mention: Ferrari

In summary, making money is easy - just buy any vertical stock on maximum margin and pretend to be wealthy until March rolls around.