Up, Up And Away

The stock market is overbought, massively divergent and parabolic. For example, the 8/15/14 momo portfolio is down almost 10% while the Dow flirts with new highs. Every stock in the portfolio is off its highs, by amounts ranging from 9% (FB) to 62% (DDD). Beware when the old leaders no longer lead. Historically, this condition has only ended one way.

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