Schwing!

If you are a Wayne and Garth fan, you know what the title means.

I took a look at the leading sectors in the market today (Wednesday) and just scrolled through their charts. Nothing fancy. What I saw in the home builders sure looked like it needed "schwing!" as its caption. Same for semis. And electrical components.

One of my warning stocks was Home Depot, which was in a solid up trend since last summer. Why is that a canary in the coal mine? Because it is a superstar that goes up no matter what. If it went down, then watch out. Well, it did not go down. And in fact, it deserves a schwing of its own.

I am the Vampire Squid of Wall Street!

Even the Vampire Squid (that would be Goldman Sachs) gets a schwing, or at least a "shproing" since it is still in a low-level range.

Semis are not overbought but homies and Home Depot are.

I wonder if the market got drunk again on global QE (thanks IMF!) and now it is thinking with its schwing, if you know what I mean.  Sentiment is rather bubbly, too, making this whole rally look like a house of cards.

Party on Garth!