Well, I’m far away from my massive desk filled with huge screens and am now instead in the center seat seven miles above the Earth. I prefer my desk. I also prefer the market not making record highs every single day, but I’m powerless there as well. The Dow got well above 50,000 on an intraday basis, but at day’s end, it couldn’t quite cut the proverbial mustard.
My watch list of main ETFs is a sea of green with the only exceptions being, naturally, the two energy ETFs, which were hammered due to plunging oil prices, what with world peace and all.
It was another crappy day for shorts, but some of my picks, bless ’em, managed to survive the blow torch to the face that bears are having to endure.
Because, let’s face it, the entire market isn’t AMD and MU. Even tech giants like IBM aren’t playing along.
In the span of weeks, we have gone from World War III panic to Unchecked Euphoria. The put/call ratio is the lowest it has been in over four years, as anyone doubting this market is nothing more than a fool who doesn’t like money
For multiple reasons, I am continuing to keep risk light. This market is the latest version of the late 1999 zeal that pulsed through everyone’s veins in late 1999. For those into chips, it has been an absolute bonanza.
