http://stockcharts.com/h-sc/ui?s=$DRG&p=W&b=9&g=0&id=p50162743671 I reviewed all the indexes just now. DRG is the last bastion of any value at all. Every other index appears to have topped out. If you enjoy the swing trade, it appears the drugs are where its at. ABT ABBOTT LABORATORIES AMGN AMGEN AZN ASTRAZENECA PLC ADS BMY BRISTOL MYERS SQIBB FRX FOREST LABS CL A GSK GLAXOSMITHKLINE PLC JNJ JOHNSON AND JOHNS DC KG KING PHARMACEUTICALS LLY LILLY ELI CO MRK MERCK CO INC PFE PFIZER INC SGP SCHERING PLOUGH CP SNY SANOFI-AVENTIS SA TEVA TEVA PHARM INDS AD WYE WYETH
Thats right we are screwed. Actually, there are almost no values in the market right now. I went through the major indexes and all are trading well above the 50 week moving average and there has not been a correction to speak of in 4 months. There are a few strategies that can be played off of this: 1) Short or puts (assuming that the market will correct) 2) Buy high and sell higher (assuming the market will go higher) 3) Look for value stocks that have not been a part of this bullish mania which are far and few between at this moment. During the summer, there were many good obvious values, but now its dangerous getting in . . . I suggest going partly or mostly into cash as we enter the new year.