Happy Happy Joy Joy

This is an oft repeated line from the socially relevant cartoon from the early 1990's, Ren and Stimpy.

This might also be what a lot of folks are thinking about the market this week too. Client accounts are up a lot and I am thrilled but great weeks are completely normal. The market may finish the year up a lot for all I know but all of the things I have been worrying about are still there but now the S+P is 30 points more expensive.

This is not meant to be a bearish post but I don't think this is a time for someone who targets 70% stocks to ramp up to 80%. Stocks are working so let them work. But there is some glee out there which urges caution. I'm not selling here but am am concerned about the market being overbought as I don;t think I have heard or read that anywhere yet. Of course I could have missed too.

I'm going to go make some snacks for the Marc Faber interview coming up on CNBC. I will also have a box of Kleenex near by and my wife will be blocking my access to the stove as I am sure Faber will give a very clear and compelling argument for why the US faces immediate economic extinction.