This is not 1998 when the market was booming the dollar was rising home prices whwer rising employment was good. The economic back drop is pitiful and everyone knows it yet stock are parting like it's 1999, all because of the artificial pump priming buy the central banks, just another fake rally built on nothing but hot air, has the nation not learned anything. Apparently not, hey what's on Jersey shore tonight, that snookie is a orange hottie.
Bernanke is a mad man, he is trying to create inflation, hello, a record number of people still don't have jobs you stinky man.
I am at the point now where this rally is now almost absurd. I have a strong feeling one morning longs are going to wake up and see 1/3 of there profits wiped out, you know how these down drafts happen when new 52 week highs are made on lighter and lighter volume. Caution is the word of the month. Just sleep with one eye open from now on.
That`s why I sleep tight at night as a day trader What you are saying will probably happen sooner or later, but for the time being this market just keeps going. People have been trying to pick a top for a long time now. Better to wait for confirmation of a top before start shorting. My humble opinion that is