The Financial Post reports in its Thursday, June 26, edition that as stocks push toward all-time highs and a fear of missing out on the rally spreads among investors, a senior Goldman Sachs trader warned that there are valid reasons to meet the latest gains with caution. A Bloomberg dispatch to the Post reports that this is especially true of lower-quality parts of the market, where stocks are being driven higher by short sellers forced to cover their positions, rather than by positive corporate fundamentals, Goldman's Louis Miller wrote in a note on Tuesday. "We flagged two weeks ago that the short squeeze the market was facing could provide an opportunity to press shorts lower, and we think that time is getting closer," Mr. Miller wrote. The lowest quality market segments have lost performance momentum, with higher positioning than expected. Key areas to watch include non-profitable tech, which historically sees earnings decline as performance weakens, leaving downside potential. Baskets comprising meme stocks are also "still at shortable levels," Mr. Miller said. Despite optimism, market risks remain due to trade talk deadlines, and the unclear impact of tariffs on inflation, profit margins and global growth.