"Are we seeing a dividend bubble?"

Eoin Treacy's view The short answer is not yet but alll good trends eventually develop some bubbly characteristics, of a greater or lesser degree. A number of high-yielding, multinational Autonomies have shown impressive relative strength this year. Two warning signs to watch out for are: 1) trend acceleration relative to their 200-day MAs; 2) PERs that are clearly higher than most other sectors or the market generally.

Another test for these shares, for which I maintain current relative strength is understandable, will occur when a stronger overall market environment revives 'animal spirits' sufficiently for investors to chance their luck in small-caps and other laggards.