After an ugly day last Friday, many were hopeful that we might finally see some pullbacks, but the buyers just keep on coming and we closed at another new high. The only way to deal with this action is to keep on looking for longs and stick with them as long as they are working. It becomes increasingly difficult to do that as more and more stocks become extended. I feel like a worry wart every morning when we have those sharp morning dips but the dip buyers always seem to show up by lunch on the East coast. I do note that the last couple of times the VIX dipped below 16, we had a quick dip shortly after. While watching MAD Money today, I agree with Cramer that the splitting up of the bad loans into a bad loan division at BAC could be a good idea. Ok I am watching way too much Cramer, have a nice weekend.
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