A bit of a strange pattern here on the NYC (represents the NYSE stocks), but NYC is an important ETF — and one of the three recommended and used by our friend and colleague, Jack Schannep (thedowtheory.com) who has had a brilliant record in the recovery from the crash (and was short or out before that).

As always, entering a mature (or semi-mature, who knows?) trend tread lightly with a light opening commitment with increases as the trend progresses or a prudent stop if it doesn’t.

The same comments apply to EEB (BRIC stuff).

Ironically the average investor looks at these charts and says, whoa, too expensive or has run too long.  In reality joining a strong trend is less risky than bottom fishing or trying to buy cheap.

And it is also true that these like the market in general have had a mind numbing run and according to the law of gravity should fall to earth.  We will be watching closely and screaming if we see the bubble being pricked.

And, anyway the market has forgotten about the law of gravity.