I want you to observe what happens to a stock when expectations are too high and that respective company fails to deliver:
(see FFIV, RAX, CRM, VMW for similar pain)
Like it or not, expectations are very, very high, for nearly every sector. Ask yourself a question: how lucky am I feeling?
According to management at several high profile steel companies, things are not too rosy. Same goes for tech, even though people seem to have forgotten that AKAM, INTC, AMZN and several other high profile names warned last quarter. Again, how lucky are you feeling right now?
This is what we do know to be fact.
The yen is knifing higher daily, much to my delight, despite the opposition of the Bank of Japan. Bonds are going up, again to my delight, as investors funnel into what they deem to be safe. And, finally, equities are grotesquely overvalued, based upon the laws of reason and mathematics.
Like I said, buying a basket of puts on the current dot-com-esque high fliers (CMG, FFIV, NFLX, CRM, VMW, CAVM, RAX, AKAM, AMZN) is indeud better than lotto.
Here is The PPT oscillator chart, as of yesterday (marked overbought as of yesterday for the 4th time this cycle)Twitter