MORE STRETCH

FWIW- the QQQQ now stretched more than 9% from its up trending SMA 50 and that hasn't happened since the highs in October of 2007- the SPX also way stretched at almost 5% above and that also happened last at the October highs.

So with very high RSI (2) readings, low VIX numbers and over bought breadth ratios the market is probably due for a bit of a breather this week.

Barron's this week with some interesting stuff:

Doug Kass with his short picks including - BRK.A CL K GIS DHR HSIC PDCO FAST;

Dougie anticipating less cosmetic dental surgery, declining profits at insurers and consumers trading down to generic brands as his rationale for shorting the above symbols.

In Ableson's column, T2 Partners with their rationale why BRK.A is a buy-

"The bottom line, to invent a cliché, is that Berkshire Hathaway, by T2's reckoning, is roughly 20% undervalued. Assuming 10% growth in the intrinsic value of the business and a cash buildup of $6,000 per share over the next 12 months, they're looking for total intrinsic value of $178,700 per share, or a 46% premium to today's price of the stock. And peering further out, within two years, based on the same reasonable assumptions of growth and cash additions, the magic number could rise to over $200,000."





Bullish commentary on ABB KFT ORCL CLX;





Links:





BESPOKE on the CNBC oil interview with TRUMP and the % of stocks above the SMA 50;





Dr. Brett on a "real time market sentiment gauge";