New highs absolutely exploding upwards! I think Zerohedge was right, people are running to the crap and most shorted issues. This usually means the rally is almost over. I discovered this phenomena by accident when I first started trading - my crappiest performers always did well towards the end of bull cycles.
Overbought in medium term. Still negatively divergent from last peak.
Overbought in short term but performing a quite amazing levitation act to finally reach my target - I had no idea it would happen in such a straight shot. Euphoria much? What is so good again? $100 oil? Next to nothing savings rate? Earnings disappointments? ECRI forecasting a recession? Stealth QE? More government control over aspects of our lives?
Yes, I will keep saying stuff is overbought until it is not. It may make me seem like a moron (maybe I am!?) as "the move passes me by" but this is a good way to get on the right side of the moves before they happen.
I'm saddened at how upset people are about SOPA/PIPA and how they (not all) let NDAA get passed without notice. Guess what? Facebook and Wikipedia are pretty worthless if you are indefinitely detained.
Best of luck, friends.
"The more people who believe something, the more apt it is to be wrong. The person who's right often has to stand alone."
Soren Kierkegaard
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