I don't want to sound like a short, 'cause I'm not, but if history is any guide, we are WAY UP in the vapors and I won't re-enter until things revert to the mean. I am not going to mention levels, because, once again, I will be accused of something I am NOT. I will re-enter, at the right price.
Regarding UTX, I don't think that the atmosphere is too thin, but if the market as a whole takes a dive, UTX will dive right along with it. There are MANY different factors that could drive the market into a dive (and a few would not be much of a stretch to imagine). Still, UTX has excellent fundamentals, it seems to me. The Goodrich move is integrating well, from what I can see; the devolution of F&S is moving apace too, it seems. What remains in UTX is a cash engine with many cylinders. Even if one or two are not fireing properly, the engine keeps on running. When all the cylinders are firing the engine roars. (purposeful analog to the old radial wasps!)