Everything seems to be running like clockwork in the market and it would be foolish to go against the tidalwave that is consuming everything in its way including bears.  The markets are pretty much a function of people’s expctations and emotions.  At this point, it’s optimism and cheer.  I would prefer not going long at this time while looking for a pull back.  Since I have been off from trading and working on a few projects which seem to be growing so far, the market has risen about 34% since I posted my Up Up and Away post.  Of course I am disappointed by missing out on much of the rise but I don’t fear missing out because the markets are very merciful if you are patient.  Right now I’m looking for a short term pull back as the markets are running more on emotion than fundamentals.  The earnings are gone and much of the good news are priced in but there may be some more upside because analyst will start raising price targets and the government will continue their economic puppetteering.  Free markets are no match for government intervention for now.  But everyone has to take note that yesterday, the rise in the markets made front page in most news sites so it is perhaps a sign that a pull back is near.  Of course that is not anything scientific but worth noting.  However it is also worth noting that the purchase of higher risk bonds and equities are a signal of a shift in momentum but again wait for a pull back and when it pulls back, don’t be afraid to pull the trigger.

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