Is there such a thing as rationale exhubrance?  We've all heard of irrational exhuberance, but right now....with volumes as tepid as they are, in my opinion there is genuine reason to be excited.  Shorts have been exposed, we know that some have gone so far as to sell shares that don't even exist....and I can think of no other reason for doing that than to hold the price down. 

Frankly I'll be quite happy if July plays out the same way June did....with little in the way of news but another big jump in the PPS without the need for volumes in the millions per day to get us there.