@regalinvestorI agree - technicals a few months back made this a...

@regalinvestor

I agree - technicals a few months back made this a buy (particularly when there was volatility around). But now the volumes aren't there, and we are seeing some good price rejection (like today) which indicates that this is toppish around here. Long-term I am deeply bearish on this, but short term it may be propped up by irrational punting.

I think the point I was making earlier was more to do with fundamentals though. Fundamentally I think there are real signs that this is now quite overvalued. Usually overvalued stocks can be propped-up by good earnings streams, but in this case I think that reality will soon sink in that dividends are many, many years away. There are a lot of other stocks out there, so eventually smart money moves towards better, sustainable yields.

Anyway, it seems like noone will offer supporting arguments for buying other than FOMO and "just because". Scary stuff imo.