I am right now about 72% cash or cash like instruments. When I hear about all of these upgrades and how things are going to get better, and better, and better I just shake my head and say, “folks we are in a bubble.”

Yes, yes the market keeps melting up. But I recently did a scan of contrarian stocks. Want to know how many were spit out? 4! Out of approximately several hundred thousand equities, 4 were spit out! If I loosened my criteria a bit then 30 were spit out. When there is so little to buy in a contrarian manner then you know we have a bubble. Last March every company I bought was contrarian and it was like picking up sand on the beach.