The trend is your friend

According to Ned Davis research, when 90% of companies trade above their 50-day moving averages, it's a bullish sign.

http://www.marketwatch.com/story/a-rare-buy-signal-with-a-good-record-2010-04-21

He suggests this powerful equities rally since March, 2009 could have some upside left, climbing the wall of worry. I have my own opinions on long-term secular trends, but wouldn't doubt it if the SP 500 may rise further in the short-term. Having said that, investors should keep an eye on the exits and be ready to push the sell button if another black swan event occurs.

See disclaimers in the side bar.

Disclosure: long select energy, precious metals, biotech, and technology shares.

Market sentiment: we all go to zero eventually.