martis's - royal spanking friday, page-31

Well what can I say....that was VERY exciting. Been a joy to update my charts this morning. Actually I still think it is the challenge of the market that is more important to me and probably accounts for the reason that I am not filthy rich like Martis!!

But now is not the time for everyone to go overboard on the bullish side. We have actually pulled all the way back up to where the collapse began. Has the SPX topped - I have no idea - but the air is getting rarefied.

But would you believe my Genius Index is still only up to 38%. I was sure we would see that figure over 50% this week. It has certainly been the weight of money on the sidelines that has pushed us into the stratosphere and there is still a lot there.

And another thing - before everyone starts complaining today that we haven't gone up as much as overseas, just remember how much the little Aussie battler has gone up overnight. Huge move.

Over recent months the bears have been very vocal but now is not the time for hubris from the bulls. That would certainly indicate a top.