THE WRONG

Markets ripping higher yet again on the heels of some good news out of the real estate sector - plus who wants to be left behind in a rally like this -

SPX +19, NAZ +31 and the DJIA +169.

Strongest sectors- shipping, energy, banks, homies, trannies and metals while junk, biotech, drugs and brokers lag.

NYSE-2000 net green;

NAZ- 1400 net green;

NDX/OEX- 90 green on each;

TRIN- .34 with upside volume about 20x the down;

Gold higher by $21 at $907;

Markets clearly over bought and no one seems to care TODAY- tomorrow turn around Tuesday of course- Art Cashin has been expecting a decent sell off for a while and he has been wrong- wrong-

Jeff Saut out with his short term bearish view - also not working out that well for now-

This fish- not going to fight the tape as this is would be a typical day when the close is at the highs- have some shorts - but not going to cover into this - as a sell off is en route - just not today.