Hi Den,

You said: Sentiment and smoke and mirrors is driving the markets higher.

I would add one more thing. The unprecedented liquidity (interest free money) provided to financial institutions and guarantee by governments and taxpayers around the world including Dubai :=)).

You are not alone with "your CLL divorce". Institutional investors also cut substantially their holding from 36% to 18%. Some insiders cashed the chips as well. Individual investors pick the slack.

As we all know there are always new opportunity to invest (including the energy stocks), providing that you have a cash on hands or available margin. I am so far 45% in cash with the reminder mainly in dividends paying stocks (have to supplement my $427 Canadian pension Plan).

NYSE Advance -Decline T Time Ratio is indicating the top on May11. Today the Option traders on OEX did the total flip to overly-bearish. Traditionally this is a buy signal for the next week of trading. There maybe some steam left before we get to the top but at this point who wants to be a hero ?