Today's word: Hypselotimophobia
It means the fear of high prices. And if you've got it, this market has you quaking in your boots.
The market has been inundated by 52-week highs lately, and that doesn't exactly have investors jumping for joy.
Only two types of investors are taking all these 52-week highs well: the nimble and the desperate, writes Joshua Brown of the Reformed Broker.
Nimble investors can respond quickly to market changes, and are constantly monitoring the currents to figure out what to do next. The desperate, Brown writes, are probably professional runners of money who are pressured to make plays in the market.
"Most market participants are not incredibly nimble nor are they under career pressure to buy at any price," Brown writes. "The drumbeat of daily new highs can be more frustrating than fun for them."
Has investing been fun at all lately? The market is so schizophrenic and topsy-turvy, throwing any semblance of strategy or planning to the wind.
MORE ON MSN MONEY
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
The market's cheap money addiction is laid bare. No one knows how it will end.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.