It has rode quite high only because tech has done well. I think it is remarkable that the whole market went up today at the highest level in years on what people misconstrued bernanke as saying to give easing in the future.
he said he will do as things is needed like he has been singing forever. what he eluded to is just low rates for some time...over and over...with this large pop funds are looking to move their investments into ETF's and out of techs rotating. if you are buying at this price i think you are nuts. take your profits as i have.
something also to think about if apple has a good pullback this and the whole tech market will also plummet...which is overdo. market can't run too much higher as without a pull back.
bulls make money bears make money and pigs get slaughtered..short inititated at todays high.
you're looking at this move from 13 to 21 like it is some big unsustainable move.............based on what? The 20 year chart shows the move has just started. We're breaking above consolidation after consolidation to the upside.
This has been the best quarter since 1998 and that was the start of a huge meltup. Look at the Nasdaq 100 chart for 20 years. There's virtually no resistance until the highs. With Bernanke dead set on not letting 1937 happen again and Obama set on being re-elected; the sky is the limit. Look how easily Microsoft floated from 25 to 32. Once this hits 25 the float to 32 could be just as swift.
Never look at where it has been only where it is going. It's going higher and not only higher but much higher. This is the next tech bubble that everyone has been hoping for only this time it's not a bubble. It's more like 1990 when stocks roared higher for years.
In the last year I have doubled my profits. I have only lost on one trade so far...bank of america.
There has been big runs...I invested in csco and sold. Don't do everything because everybody else does... if you are a sheep and follow the heard you will run yourself off a cliff.
today's run was only on a mere "inference" on the hope of easing.
if the stock has a pullback because of disappointment, or apple selling off, war in iran starts, or simply because it is too high or some other first little quake as everything is overbought you are going to see a huge pull back anywhere from 16 to 17 based on the chart.