Stock up on that coffee

Coz the prices have gone ballistic, and it's about time the costs will be passed on to the consumer.

Of note, target has a great deal on Starbucks coffee right now...discounted + a small gift card for buying in bulk.

Overbought readings

At this juncture, the stock market looks very overbought. While timing declines based on such indicators in not of much value, it certainly does imply that any further gains from here will be tenuous and prone to sudden downdrafts. The indicators I follow for this are:

• CBOE index and equity put/call ratio
• ISE sentiment index
• VIX/VXO volatility indices