Thanks for the information!

Update: We have not seen this level of overbought prices (short term) since 1999. The last time that happened, we did sell off quickly (remember the tech bubble?). As I said, anything can happen, we can continue flying upwards, but the more likely scenario is that we pull back and stall out a little while before resuming upwards. On top of that, the jobs number was not that great. In reality, we need to add 300,000 jobs for the next 4-5 years just to bring our unemployment index back to normal.

Just be careful!

Short term, the stock market hasn't been this overbought for over 2 years! A sharp pullback can happen at any time, despite all the hype and greed we're hearing all over the media. If anybody follows technical charts, you will know what I mean. The RSI on most daily charts for popular stocks are between 70 and 90. 75 in general is normally a top until it unwinds. Sure, we can go up for another week or so, but it's very unlikely that we keep doing it from this level.

The problem is now that it seems that everyone is bullish, and people are really letting their guard down.

We have junk flying, like FNM, AIG, Palm, etc. This is usually a final pump of trash before a bigger fall.

Disclaimer: I'm not making professional suggestions or giving advice. Check with your broker or financial adviser for financial advice.

Mike