Love the headline from fellow blogger Fund my Mutual Fund (TraderMark)
"Bears Put on Endangered Species List; S&P up 9.6% in 3 Weeks - NASDAQ up 9
The bulls are in a mad orgy of buying at this point.
It appears to be the exact opposite of a selling panic right now - a buying
panic. I hesitate to see we have not seen action like this in a long time
because frankly there were a few runs like this in 2009 which also left the
mouth gaping. While the NASDAQ rally of 1999 was epic, it was rarely if ever
straight up like this - the upswings were very sharp but every 6-7 days you'd
get smashed to pieces with a -1.5% down day (and those specific momo stocks
would drop 5-8% instantly). That kept you honest. But that was the era of human
beings with emotions. This is just emotionless drones buying and overbought
means nothing to them I guess".