QQQ Mania

In looking at the market, I dont see this too often: The Cubes diverging from the Dow. I took a look at why for today.

Greed. And where there is greed, I show up like a shark in water. I smell greed.
The Greek thing has been put to bed in investors minds, China's gov stepped in and stopped the crash, now Google, Youtube and Etsy have big news today and investors are all jumping in with both hands and both feet in a feeding frenzy.

I took a look at the chart today and I saw 2 back to back gap ups, an upward channel broken, but all this with decreasing volume today.

1. SPY is down today. Very strange. Usually mirrors the cubes
2. The Dow is down today. Divergence from the cubes
3. Greece and China wrapped up in investors heads (Hey, lets gamble!)
4. Good news with some blue chip techs (Hey, lets pile on!)

With all of this put together, I am seeing a Greed situation happening. Now, the chart above says do not take a contrary position. There is two double gap ups back to back. What are you, nuts? But my contrarian sense is telling me yes, take a position today. Everyone else is running in the building for free cash. I am running out of the building.
Plus, I think investors are going to get their heads together over the weekend and things are going to go sideways a bit on Monday and some news or the other will knock things down on Tuesday.

Tune in later today for a QQQ put order as I am going to watch a bit more today first.

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