THE PISANI

The markets have closed near their highs and Bob Pisani, of CNBC fame, is certaintly excited noting how the bears have been crushed and the markets are at three month highs. Jim Cramer also screaching about how the call sellers have been crushed and are probably out of the game.

My take, if you want to buy the highs, be my guest but it isn't the way to make money on a consistent basis and if you are long, trail those stops closely. If you are feeling like you can do no wrong, please go back and read this about buying highs and selling lows.

I haven't been much help lately as the markets have ignored my sell signals and made me look foolish. One thing is for sure and that is tomorrow is another day and we will see what it brings.

On a final note, a CNBC love fest as Hewlett Packard beats, raises and buysback. They know the market rally is good for ratings and that is all they care about regardless of how ridiculous they sound.