Note the insane flows into big tech
US equities are set for another record at the open as earlier concerns have been wiped away. S&P 500 future are 10 points higher, which would be the 8th record close in a row. Nasdaq futures are flat and all eyes are on TSLA, which is down 5.1% pre-market after Elon Musk's weekend stunt about selling 10% of his shares.
What I find most interesting is a series of charts from Goldman Sachs. They show enormous options trading in Tesla and other megacap tech names. They said Nov 4 was the largest ever daily notional value of options trades.
The charts below show estimated retail flows.
It's the same picture in Google, Microsoft and Facebook.
That's certainly not something you see at a bottom...
h/t @MichaelGoodwell
