When one of the Smartest Technicians says “caution,” LISTEN!

Exuberance May Be Creeping In

| Feb 13, 2012 | 6:30 AM EST

…………..As I noted last week, it is my view that the Investors Intelligence readings show more complacency than exuberance. However, the Market Vane bullish percentage now stands at 66%. The last time this survey reached such levels was February 2011, and that reading was the highest one since before the 2008 downturn, so we know this is high……….

http://realmoney.thestreet.com/articles/02/13/2012/exuberance-may-be-creeping

She also notes that Baron’s Cover this week has”DOW 1500″ which is never ever a good sign.

Careful out there!

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