...we're not secular bearish; just expect a correction.
...suggesting (to us) most big stocks are ahead of themselves...
...we would be remiss if we didn't denote 'when' short-terms are extended, and ripe for correction; whether that correction occurs smoothly or not. In this case we wouldn't be surprised to see a different dichotomy, where money flow shifts again move to the under-exploited from the overdone stocks, as this evolves.
Gene also discusses Iraq & Iran and potential market reaction.
He's still excited about the "Death Ray" IOTN.
This chart is looking a bit "toppy" as Gene says:
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p46174816428&a=94546561&r=7822.png
Edited by Rogerdodger, 03 February 2007 - 12:01 PM.