Deep Thoughts By Jack Handey

Today we ponder deep thoughts by Jack Handey. The cheerleaders are out today telling me the world is great with the Dow and S&P back at old highs. And, from a purely selfish perspective I truly wish the world economy was great. I have a simple question. I'm just wondering how odd it might be that only one of the thirty Dow stocks is making a new cycle high today let alone the half-ish of them that have actually exceeded the 2000 high? Anyone want to tell me how many times that has happened in the last one hundred years? Or maybe that less than twenty of five hundred S&P stocks are making new cycle highs? Just curious. Remember, peaks are formed by a process of distributing assets from strong hands to weak hands over some period of time. Heavy selling, step aside, let the weak hands rally the market, heavy selling, step aside.......and on and on until the party is over. In order for that to happen, weak hands need to be convinced the world is marvelous. Do you believe the world is marvelous? Jack Handey does.