Friday, February 4, 2011


After an ugly day last Friday, many market players were hopeful that we might finally see some pullbacks and/or consolidation, but this market was having none of that. We bounced back a little on Monday and then really flew back up on Tuesday as the "first day of the new month" phenomenon kicked in with a vengeance. We hesitated a little on Wednesday and then dipped for a short while on Thursday, but the buyers just keep on coming and now have us at yet a new high in the final few minutes of the week.

Trying to guess a top is obviously futile, but even the most bullish bull has to wonder when we will finally see some selling. Even great markets rest once in a while, but this one isn't resting.

Variety may be the spice of life, but that doesn't apply to this market recently.

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