Rydex

Wait a minute, investors can't expect more QE because we already have too much of it already.

This is a rally based upon hope and vapors.

Just remember what the market was telling investors at the October, 2007 market top when it hit an all time high (SP500 1576.09) and just prior to cratering over 50% in 2008.

In fact, the only thing that can circumvent the price cycle is QE3.

More of the same is not working, and it just may require lower equity prices for investors to get what they really wish for.

The market finds itself at another one of those junctures that have been prevalent over the past 3 years.

It would be nicer to have seen greater extremes in bearish sentiment at the bottom as this leads to stronger future returns.

Like my whiny children, who after 30 minutes into a 6 hour car drive, investors are asking themselves, "Are we there yet?"

If you "buy the f---ing dip" make sure you "sell the f---ing rip".

The market appears to be topping out after we were all told that this is one of those can't miss you better jump on board now the train is leaving the station moments that you will certainly regret.

It's all good, and no doubt this can only mean one thing. It's clear sailing ahead. But not so fast.

The top can best be described as a period of discussion. Is the economy sputtering? Will the European contagion effect the US economy? Will the fiscal cliff be realized? And of course, the #1 topic of discussion and the only one that matters: will there be QE3?

If you have been a buyer over the past 8 weeks, you most likely will find your investment underwater.

I ask myself everyday: if I am buyer today will I be able to get out of this market safely and without a parachute?

While prices did go higher in several cases, investors need to understand that we are nearer the end of the rally. Or at best, there might be a short term pullback in the works that lasts beyond 30 minutes.