a major battle is being fought in XLF. look at 3 dojis/dark filled candles in a row! usually there is one around a market turning point now we have 3. and give me a break that the financials are worth 15-20% more now than 1.5 months ago. nothing appreciates that fast. it is not like we are coming out from 911 attack.
Rallies continue in Asia market, Nikkei above 11k!!! MAJOR ASIA INDICES *NIKKEI 11066.07 +79.59 +0.72% *HSI 21365.28 +127.85 +0.60% *CHINA 3117.51 -6.28 -0.20% *S&P/ASX 200 4920.60 +23.32 +0.48% Getting ready for the over night rally in the futures, I feel another .50% rally coming tomorrow.
i suspect there no genuine Longs in this market. there are just two types of Shorts: the first kind is dumb, overleveraged and is carrying his shorts overnight. often they are forced to cover in the morning fueling the rallies. the second kind of Shorts is a smart intraday Short: he fades the morning rallies just preying on his dumber brethren.
I remember a day when the Dow was down 50 points but it was long ago. Really I wish my longs were doing as well as the Dow but most of the stocks I watch are not hitting new highs at all and I want to sell bad. Shorts also churning. I think these up days for the last 2 months are BS, wish I was in a dow etf only.
Just buy DDM, you will get double the upside of what the dow is doing, its risk free money since the market is only going one direction.
I don't recall a bubble ever declared for an index that was not at new highs. Why do you think the market is at a bubble? Which market are you referring to? The market might be over valued, but bubbles really imply that mom and pop are all-in, which is not the case if you see the cash on the sidelines -- and before you say that I am crazy bullish, again I am saying markets are overvalued and there are lots of ways to work it out. Eg. earnings increasing and markets flatline.