Well, as I sit here on Thursday evening, the ES is completely unchanged. It seems astonishing, but index after index, and ETF after ETF, is at lifetime highs. There are a handful of indexes, such as the Dow 30, which aren't quite there yet, but the Dow's equivalent ETF, symbol DIA, is at a lifetime high (based on dividend adjustments, which is really the only sensible way to do it, but I digress).
On the rare occasions I've offered up long ideas recently they have tended to be in the area of financial stocks. I'm not talking about the JP Morgans or the Goldman Sachs, but lesser-known names. The fact that these all tended to be in the same sector wasn't deliberate on my part; it just so happened that the chart patterns were really good on the long side, and naturally, since they were so closely correlated, they tended to garner my attention as good long plays.
Anyway, since there's precious little I can offer as convincing proof that the market's about to fall to pieces ("Wave 3! We're at the cusp! The cusp, I tell you!"), let's review some of the more successful long ideas of late:
