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Greenberg: The Best Market Contrary Indicator (Me!)

Monday, 28 Mar 2011 | 10:48 AM ET

I'm at that point where I'm starting to wonder if it simply doesn't pay to fly red flags over some of these battleground stocks anymore.

I mean — why bother?

Netflix: up 216 percent over the past year.

Open Table: 170 percent.

Green Mountain: A mere double.

And Priceline : I've never talked about it, and good thing — up 93 percent.

These stocks—and many more like them—are defining this stage of this market. Or what some might say is the bubble-esque stage of this market.

Each is a poster child of momentum, many times over.

And that's even with nosebleed valuations and red flags flying here and there:

  • Growing competition and falling cash flow at Netflix .
  • A changing business model at Open Table .
  • Concerns over the commitment by Starbucks to Green Mountain .

Yet, anytime you mention any of that kind of stuff, you get insult upon insult hurled at you.

I'm not complaining; it comes with the territory.

But it feels so 1999.

And by the way: Every time I start talking like this—or feeling like this—for those of you looking for some kind of sign from above: The market is usually at or near some kind of inflection point for the market.

Onward.

Questions? Comments? Write to HerbOnTheStreet@cnbc.com

Follow Herb on Twitter: @herbgreenberg

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CNBC Data Pages:

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Disclaimer

  Price   Change %Change
GMCR
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NFLX
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OPEN
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The Priceline Group
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SBUX
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