Todd Harrison: Bulls Celebrate Stocks at Highs With Fear at Lows

By Todd Harrison  JUL 03, 2014 11:55 AM

Underperformance isn't "Kool," no matter how you slice it.

 


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There's a party goin' on right here; a celebration to last throughout the years...
-- Kool & The Gang

The S&P 500 (INDEXSP:.INX) is at an all-time high, the Dow Jones Industrial Average (INDEXDJX:.DJI) is trading above 17,000, and anxiety, as measured by the VXO (INDEXCBOE:VXO), has never been lower -- ever.

With Independence Day upon us, the Bulls and their Gang have every reason to dance, Hurricane Arthur be damned. 

While some will argue the rally is synthetic, driven by manipulated agendas and bastardized by robots, anyone who bought (or held) until now is doing a jig all the way to the bank. Of course, paper gains are just that until a sale is registered, but why let semantics and process get in the way of a good time?

I was supposed to be on holiday this wee -- the second annual Del Corando respite with my wife and little one, enjoying some down time while the twins are at camp -- but it wasn't meant to be as there is too much to do. That's not as much a complaint as communication, for I know the alternative -- not enough to do -- wouldn't be much fun.

A holiday rendition of Random Thoughts? Glad you asked; in no particular order:

R.P.

Twitter: @todd_harrison

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No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at todd@minyanville.com.

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