A Question to Ponder

The SPX and DJIA have broken out to new highs yet the COMP has languished...

The market leaders are not the usual suspects from the tech world nor are they the "safe-haven" name promoted by the Street. Housing, energy, coal, steel, basic materials...those are the name that are leading.

If you follow the action intraday, it feels like a giant game of follow the leader...and the leader is whatever has ticked higher that day.

Given the growing presence of hedge funds (and the massive $$$ they control via leverage) is this what the market will trade like for the near-future?

If so, that should be interesting. I remember a few of the momentum based tricks and tools that worked oh-so-well during the tech bubble...Yeah, it can be like playing with fire if you don't respect the risk but with high risk comes...