The trick with bubbles is not to look for their beginning; it is to be able to get out before the bubble bursts. we may see Dow 18,000 and NASDAQ 6,000 before the bubble bursts. The big money will be made by those who know how far togo before getting out.
The bubble wont be over until Russell 2000 goes to 1050-1100. The EARNINGS for the RUT are now about 30 % HIGHER than they were in 2007 when RUT made highs of 856 . Which will put TNA roughly around 62 .