We are woefully close to the 2007 highs, which will draw out the very worst investors to shout “double top”–declaring that “we will now retest the 2009 lows.” These people have no idea, whatsoever, of how to invest. The walk around blind, leading others off cliffs.
We might reverse off this optimism. I already sense weakness in several leadership sectors, namely housing. The sequestration is supposed to be especially harmful to the housing market. Nevertheless, we are in a long term uptrend. These trivial declines should be viewed as “stupid nonsense,” something to acknowledge and to buy.
I added to my APO position and started new ones in PAMT (hoping for joozy news) and MTU. If we reverse and dive lower, I will take a nap, wake up, then nosh on a few sandwiches and/or bags of organically fresh tomatoes.
Finally, as we climb this peak and attempt to reach the summit, do not look down–for that will cause you to undergo a bout of vertigo, leading you to slip, fall, break your neck and spine– then die.