Boarding Call

We're not scared to lose it all
Security throw through the wall
Future dreams we have to realize
--Howard Jones

Another strong market day that saw major indexes break out above resistance. Case in point was the SPX which creased thru 950 early and never looked back.

Things are starting to get that 'fear of missing' feel, as folks on the sidelines are getting nervous that they'll be left behind. This is particularly true among fund managers as their benchmark bogeys boogie higher.

Brief aside: One thing that stuck out to me today when gazing at the above chart was the relatively low volume corresponding to this leg higher.

Unfortunately, I was never able to take down some SPY last week as hoped. Never found a suitable entry. But I'm carrying a decent slab of commodity exposure along with select pharma. The pharma shares, particularly Merck (MRK), have been among the leaders of this leg higher (for a change).

My plan is to make some sales (discipline) into SPX1000. If we head higher yet, I'll continue to feed the ducks.

position in MRK