Looks like more punishment for the bears today. I think yesterday may have been their best chance to get the market to drop, but they couldn’t do it. So far the earnings news is too good to motivate much selling. (Some of this lift may be due to options expiration pressure too.) The indices are still very extended for my liking, but they are hiding some nice pullbacks in many individual names — many of which made hammers yesterday. I’m still in stick & move mode (daytrading) and will be avoiding any stocks that report earnings in the next couple of days.
P.S. How about that $40 price target on put on JNPR by WR Hambrecht today? These aggressive targets just keep rolling out and I swear I’m having flashbacks to the year 2000. 
If they put a $250 price target on it we could look forward to getting back eventually to breakeven.
Check out the column by Mark Hulbert over at CBS Marketwatch today on the strength in bonds and the money supply. Interesting.
Yeah, options week shennanigans. Historically, January and February are poor performers in election years. I think we get a pullback, but I’ve missed a bunch of the rally thinking that for too long!
Has anybody noticed the upswing in old warhorses like SUNW and CSCO? Sun’s practically parabolic. (I think that’s a pun).
Something makes me think this all ends badly, because the people piling in now are apt to be the ones who a) missed the late ’90s move and don’t want to miss it this time; or b) have to make their money back from the 2001-2002 swoon. Neither of these seem like savvy gamblers.
Definitely due for some kinda correction, in any case. QQQs have been overbought since Jan. 1… rarely have they stayed that way much longer than a couple weeks.
People always say that a new bull will be lead by different names than the last bull. Either this time is different or this is just a big head-fake.
Week after options week is normally down. Normally. Looks like a lot of the strength is moving into 2nd-tier names. Could be blow-off phase in this rally.
Maybe. Hah.