i think it is a resources boom but it tends to be rapid day trader spikes - but unlike the tech stocks the prices tend to crash very quickly - companies seem to be eager enough to push say a stock that runs from 10c to 50c by raising some cash by placing stock at 35c - after the ann the stock falls back to 40c and then slowly subsides.
It is much more retail trade driven but prices fall as well as rise.
So no we are nowhere near the tech irrational exhurbarelnce perhaps more like the stage of 1998 in the tech boom - the market was exciteable but progress revenues and profits did coutn more at that stage.
Its not just resources its biotechs industrials tech stocks.
I think its an across the board sharemarket bubble but not concentrated in one sector - just a lot of cash chasing stock specific good news annoucements. Its an asset bubble that will probably deflate slowly next year
Going inot the new year though my money is on gold and other stock specific trading ops - but some nickel and other biotechs are going to either a) put options or b) reversal trades after bad news - get in after they have been savaged ride em back up a bit to fair value and take profits with stop losses.
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