Recently, I posted that one of my signal of a market top is Waiting for Bears to Capitulate. My second signal is seeing my beaten down stock holding achieve 52 week highs. Examples include Under Armour, Chesapeake Energy, Contango Oil and Gas, Infinity Pharmaceuticals, and Geron. When that happens, I will know exuberance is happening and it will be time to exit the market.
In the meantime, I expect the market to keep grinding up, making it painful for the bears.
Disclosure: At the time of posting, we own share in Under Armour, Chesapeake Energy, Contango Oil and Gas, Infinity Pharmaceuticals, and Geron.
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This is not financial or investing advice. Please consult a professional advisor.
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