IN A NUTSHELL

Given P's bugs.....3 amigo blackout period coming! and I dont bite my nails!!

$1 TRillion to money supply, low rates, hedgies buying etf's, most m & a's since 2000, cash buyback's galore, record bullishness, exploding double digit Spx earnings growth...........

...........stock market that has little to show for it! JAN high of 10,940 still stands!@! Dow running into overhead descending trend line drawn from 2000 high

Leadership harder to find, breadth weakening, Dec rally front run.

http://stockcharts.com/def/servlet/SC.web?c=$compq,uu[w,a]wallyiay[pc200!c400!f][vc60][iut!Ub14!Lh14,3]&pref=G 2000 key area for Naz IMHO.

http://stockcharts.com/def/servlet/SC.web?c=$VIX,uu[w,a]wallyiay[pc52!c10!f][vc60][iut!Ub14!Lh14,3]&pref=G Who needs protection?

http://stockcharts.com/def/servlet/SC.web?c=$SPX:$VIX,uu[w,a]wallyiay[pc52!c10!f][vc60][iut!Ub14!Lh14,3]&pref=G Just observe today between 2000. Higher bullishness, lower prices!!

Good news discounted...........bad news will cause implosion, IMHO

D