It would be an understatement to say quite a few things are very overextended – entire sector ETFs have printed their entire day's range over their upper bollinger bands. We're not even talking about within sniffing range of a 10 or 5 day moving average. Overall action continues to be constructive here but it has become frothy in the very near term. So as next week approaches the question is, will this condition be worked off via price (down) or time (sideways)?
Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund's holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog