I agree with you partially. Recently I have noticed that every time the company beat earnings estimate, the stock appreciates 10 to 20% and the next day people cash out. They don't stay LONG. I think everybody is expecting a pullback or correction.
triple top, EU, middle EAst, market being propped up and overbought. EU is a big problem that can affect China and India.
volatility will start next week, even if Greece does something Sunday still in extremely bad shape and will default then what about portugal, spain, italy they are even worse than Greece. EU could break up currency and countries can default.
JMHO, be careful it isn't time to be long. Yes dow climbs on dow 30 but they are huge companies with low beta and are propping up the market. also many traders are out of the market, could see a 50% correction to get traders back in.
it'll run to $50+ read cnbc headline on Greece, Art Cashin says volatility next week, Greece won't make it, no matter how much you give them it is no use. Media here let markets go up and didn't mention Greece while markets where climbing and they keep saying buy buy buy, watch how they turn negative soon! Time to go short or get TVIX VXX for volatility plays. No good news out there and money keeps getting printed and retail investors not buying stocks. they have money in banks or homes. MM trading between themselves and sucking traders dry.
I Don't think it will go to $100 but maybe $30. The markets are due for correction. January is gone and it's time for bears to take over. $1.3 trillion Budget deficit will take over the markets for sometime now.