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Greenberg: The Best Market Contrary Indicator (Me!)

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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