‘Lunatic’ Stocks a Drag on the Broad Averages

The broad averages ratcheted their way to marginal new highs yesterday, but the lunatic stocks –Priceline, Netflix, Google, Tesla et al. — were a noticeable drag.  Which will win the tug of  war as the week ends? My guess is that the weakness of the latter will pacify short-covering bears, at least for the moment, restraining the stock market from making significant gains.  Watch for an overly ambitious opening bar in the Dow and S&Ps, since it could be setting up a bull trap.