Today on Fast Money I heard the following:

I don’t care what the price of Microsoft is right now I want to buy in.

This is a clear sign of a bubble. I was talking to a friend and he said, “you know this feels very similar to the dot com bubble.” I completely agreed. He said the higher we go the harder we crash.

I hate being bearish, but I am becoming freaked out because what happened today with such poor economic numbers in employment (Eurozone, US, Canada) is simply not sustainable. (1,2, 3) Then I see how inflation is becoming a concern in the UK. I have not been this freaked out since August 2007 when I said that you should not catch falling knifes and said that I am very very concerned.

I have already eased up on my positions, and let me tell you I am about to unload my entire portfolio. If I end up unloading too early, I will be buying short term high yield bonds and will wait for the market to correct.