This market is starting to look dangerously similar to 1997 again. Bears keep getting squeezed, call chasing is exploding and nobody wants protection.

Rising yields. Exploding rates vol. Investors still panic-buy MegaCap AI upside calls. Late-90s Nasdaq behavior is back.

This market is starting to look dangerously similar to 1997 again. Bears keep getting squeezed, call chasing is exploding and nobody wants protection.