Without Comment

Above, and today without comment, is a chart of the S&P 500 index since last August.  Please note in this chart the unrelenting move higher we've seen since the beginning of this year.  Some would call this a parabolic move to the upside.  Stocks are up a bit over 6% so far this month.  According to CNBC this morning we are off to the best start of the year since 1987.  A normal corrective move from these levels of 10% would only take us back to last November.  The financial press is as uniformly enthusiastic as they were universally negative back in March of 2009.  I am making no predictions by making that comment about the press.  I'm simply stating the obvious.

More on this at a later date.

We own ETFs related to the S&P 500 in client and personal accounts. Short S&P 500 in a personal account as part of a separate individual strategy. Positions can change at any time without notice on this blog or via any other form of electronic communication.

Chart is fromTrading View.com.