- Rydex traders are at record long positions.
- Consensus bulls are at 78%
- The VIX is at a post-crisis low.
- Many technical pundits who were looking for a correction threw in the towel in recent days.
- The pace of secondary offerings has reached a fever pitch as corporations are rushing to sell stocks.
- Apple gaps up by $5 a day every day than keeps running. This pace cannot persist until late April. This type of behavior is often seen in the later phases of a rally.
- We are likely to see a big asset allocation out of stocks and into bonds later in the month due to quaterly rebalancing. Stocks are up big for the quarter and bonds are down big.
I am sitting on my hands for now but as we get closer to expiration I will be more likely to move closer to the dark side.