The Wall Street Journal have published a piece titled:
The journal uses the ‘euphoria’ word:
- Bullish bets on artificial intelligence have boomed. More than 1.3 million call contracts on chip makers Nvidia changed hands on an average day in June, on track for the highest monthly total on record. Those volumes surpass the exuberance seen in November 2021, when the Nasdaq Composite reached its peak.
While I’d suggest more work needs to be done to form a view than simply reading a pice like this the fact that such a bullish headline hits is often a sign that bulls need to be very careful here.