That’s what we call safe money powering the Dow’s new high.
It’s the sturdier, cyclical type businesses that funds have been buying to help the major indexes along to higher levels as aggressive growth stocks fail to attract bids.
We never argue with the market.
If indexes make new highs, so be it. All we really need to know is it’s not a good time to by buying growth stock breakouts. Odds are we’ll see some kind of spooky sell off once bids for even these safe vehicles tapers off.
Let’s see if we can find some shorts.