I warned all of you about Snapchat last week, and it didn't take long for me to be proven right. Today Snapchat traded below its opening price of $24 and appears headed back to its IPO price of $17. From there who knows but what I do know is market hysteria has hit a new high.

It's not just companies like Snapchat that have no value yet receive widespread praise. There are also deeper concerns in the stock market. Retail money is flooding back into the stocks, this time in the form of ETF's. The question is, how long can these prices be maintained once all the uneducated investors are fully invested.

Watch out. When worthless companies received ridiculous valuations and stupid money starts flowing into stocks alarm bells should be going off in your head. Don't fall victim to the hype. It can cost you everything.