15 MAR 2010, Monday

1. Historically, this SP500 1150 area has been significant. 
2. NOW FASB Wants To Do The Right Thing and move away from mark-to-make-believe accounting?  Uh oh...Be aware of stuff going on behind the scenes...This could be a potential harmful catalyst to the past year's rise in every asset class...this is the bullshirt that is quietly going on in the background and ought to outrage or, at the very least, scare the heck outta any investor because there is no way to realistically determine a true value for any of his investments.  Government funding has kept all the plates spinning but consumer demand has yet to come back.  What happens when the stimulus spending slows?  What else will be able to prop up assets?
3. As to today's action....With no down days since February, the S&P 500 tracking ETF (SPY) is now riding a twelve-day winning streak. Since SPY began trading in 1993, the only other period where the ETF had a twelve-day winning streak was back in September 1995.  Hmmm...due for a pullback...a little overbought?  I'm a broken record I guess.
4. The thing that disturbs me is when you get these non-stop eeky squeaky up moves but they are really small incremental gains.  The only thing they do is get media attention..."Another up day!"  Saw the same pattern into the 2007 top which gets my attention.