The merger of UAUA and CAL really set the market into a takeoff. There was more good news as Greece had its umpteenth bailout and there was more construction spending than anticipated. And let’s not forget…we had this great up move on low volume.
On the other hand, this makes the Dow up 10 of the last twelve first trading days in May. And I can’t remember how many up Mondays….like 30 out of the last 38, or something like that. The only thing we need now is a wild Turnaround Tuesday. 
My long positions doing well: DRYS and GTF….at breakeven: RNN…and not doing so well: ZANE. I also picked up some TZA at the close. Gee, a nice gap down may do me good.
Here’s a real good explanation of “It’s different this time…”
Thoughts On The Intermediate Trend by Matthew Claassen
While we desire never to be caught with those words leaving our lips, in truth every market cycle has something different than the previous. Equally important, each market cycle shares similarities to one or more past bull or bear markets.
And check out this Greece info: Why Greece Will Default.
I don’t think the Greeks can make it and for one good reason: the economy.
Sometimes, entranced by the screens, watching equities, options and futures change colors, charts moving in a wave, and indicators pointing in every direction, I just have to scream....
