1. Obviously I love investing at this stage of the economic recovery but today is not a day I am buying. In fact, I am selling down to raise some cash. If the market continues on I'm fine because I'm still in, but what I really want to do today is reposition and be ready to buy on a pullback. The market has gone up on pretty much every employment report this year. Just when you're sure it will happen again...

2. Many are confused by the huge climb in bank of America. You need to understand that Bank of America investors see a much bigger picture than the stress test capital raise. They see this as an end to the crisis and on to a new beginning where this company owns the world. Every other American citizen is now a BAC client in some way. Consensus opinion will tell you that CEO Ken Lewis is a chump but the opposite is true. He made some brilliant long term acquisitions with his purchase of Merrill Lynch and Countrywide, sure he overpaid in the short run but the short run is irrelevant. This big picture point of view is what led me to write my 'BAC going to $20' article back on February 20th when the stock hit its low of $2.53. It is well on its way to $20 and I wouldn't be surprised to see it far surpass the $20 mark as we approach 2010. Again, I wouldn't buy it today but you need to understand the action. Don't be so confused.