In Tuesday night's Mad Money program, Jim Cramer noted that even apparel maker Ralph Lauren Corp. (RL) was able to send the short sellers heading for the hills as it rallied sharply. Let's try on a few charts to see if this strength can continue.
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This reminds me of 1999 to 2000, but the big lesson during that time was that the crazy uptrend can persist much longer than seems reasonable.
While we face some absolutely insane moves, we have to ask: Where are the sellers?
All the current indicators from trend to momentum to price action sit in a bullish position as the stock breaks above resistance.
The spot market is above the $1,800 threshold.