No way....you gotta sell hope, and materials/transports just don't do that for people. Gotta be tech all over again. Besides, it's been quite a few years and people have mostly forgotten the beating from last time...
AMD has moved up $2 in 2 weeks, AMZN popped $11 today, TXN popped $.50 today, and INTC is a few cents from the 52 week high. Get your head out of the goog sand.
i'm not enthusiastic about getting long, but guess what...
... we're in a bull and we're going MUCH higher. Definitely going to retest the 1525 of 7 yrs past.
Past that I have no idea. Maybe Bernanke will put an end to it next FOMC (2-3 weeks), just like he did PRECISELY this time last year. gasoline is getting out of control and the euphoric short covering won't persist forever. [and the stats are VERY bullish for continued strength in gasoline] I think the only thing stopping RBOB is demand falloff from high prices. And who knows where that point is...
Just realize that considering dollar weakness, indexes are only up a few nominal percent y/y (like 3-4% at most), and that at best covers inflation losses.