Since no one else is commenting on this. Let me make a comment. If you look on this chart in the 90's, during the greatest bull run in history, the net margin ranged between zero and 50 billion. It's now over 3 times that! Amazing. OK, as you were.
Closing above the quarter today, targets into the 870 area off this move. Tech has def takin the lead into this move. Outstanding strength in semis, solars, and the larger cap tech names.
I guess I better re-light the pilot light on this thread. It burns out from time to time. LOL. http://www.zerohedge.com/news/2013-...0-years-nikkei-tops-15000-first-time-jan-2008 ZH has an interesting piece on the JGBs. Ultimately this is what is going to stop our rally "when" that happens. Japan is currently up 42% YTD and is threatening to take out our record 95% year we had in 1999 on the NASDAQ. A spike in rates in Japan will probably do more damage then China bombing the F out of them. Sentiment here continues to stay way too bearish which is leading risk assets higher. The ISEE index refuses to spike. It's hit the 200 level 3 or 4 times now which on a relative basis is "mildly" impressive. But we need to see a 250 to 300 reading. AAII came out last week and showed a moderate jump in bears vs bulls but also that is still too low. Basically too many people are hedged or short or simply not long yet. As shocking as that is. The ISEE index has been "the" most accurate indicator I have ever found to mark "major" market tops and bottoms. Btw, the correction has already started in Argentina with a 14% drop in the last week. It was the leading market around the world. Ultimately all these BRICs are going to get decimated.
http://www.zerohedge.com/news/2013-05-15/other-great-rotation-reach-yield-dash-trash Buying the most shorted names on breakouts have always made sense to me. If we get a "blowoff" top, these names can trade into the stratosphere and beyond. TSLA case in point.
Great commentary, Mav. Always got an insightful, unique take on world and market events (and even entertainment. Second career as a movie reviewer might be in order after retirement).
You know Bruce Kovner of Caxton Associates use to and maybe still does write critical reviews of live theater in NY. He's been a theater critic for decades. So maybe there is a parallel....