The stock market increasingly risks failure as tech stocks soar in the 'biggest speculative orgy' in over 4 decades, market vet says

REUTERS/Brendan McDermid

• The stock market is poised for a major retreat as investor sentiment goes to extremes, market veteran Bill Smead warned.
• The S&P 500 "looks like an over-cooked goose" because it's overloaded with stocks that don't offer favorable long-term returns.
• Tech stocks could be in their biggest speculative bubble in over 40 years, he said in a note.