Trading action is so good it is difficult not to be concerned it is frothy and ripe for a negative surprise.
When too many people point out something I wonder whether the trend is overdone.
Avoid the long side for now.
Let's review the charts and indicators.
These investors seem to buy with a gusto never before seen in my lifetime.
Let's review the chart again.
The primary focus is on the price action in individual stocks rather than macro-arguments or the technical condition of the indices.
Hedge your longs with shorts on companies whose business is quite literally drying up.
Here's how we'd we play the stock.
Psychology and valuation suggest caution right now.