All Major Indexes Continue To Be Overbought...

All major indexes continue to be overbought and expensive at these levels. The S&P 500 which is a more realistic measure of how things are doing today is at a little over 15X earnings; thus, a little over my comfort line to continue to buy stocks... If we do not get positive news in the upcoming weeks and the next earnings season is bad, we are headed down and hard. Let's see what happens - at this point, most money managers have built a strong cash position and only retail investors continue to push the markets higher. Folks, CASH is still KING!