Now is 3am in the morning. Yes it does seem like US is enjoying the prospect of Dow beating all time high target. It sure garner some limelights today. CNBC has been talking about it. As the media is focusing their attention on this prospect, we maintain our view that this is a high point to be in.
Oh mind, this is the all time high, not just the 5 years high point we are talking about. If it breaks, it sure is a great feat amid the europe problems and high unemployment rate and the debt ceiling. However short term wise, we still maintain our view that this is a risky state to be in. "Take note of March and April" it seems we have been giving this view umpteen times. We still maintain this view.
As the whole world still rejoins in this festive mood of the market, we think that for the next 2 months, this 14198 point acts as a rubber band. If it really breaks, the more it goes up, the more it will pull back. The best way to have is a slow upward movement slowly past the 14198 so that this music can still go on a longer time.
You do not want to be caught in a situation where the rubberband pulls back hard. As the market rejoins, we do not want to dampen this spirit.
Let the music plays until it one day stops, and stop it sure will....