If you do not see the bubble here you have to be wilfully blind. Yet it could go one notch higher if we are presently in 4 of 5 of 5. A serious break of 1400 would cause overlap and indicate that the bear phase has started. A quick peek at Siemens SI, Philips PHG, Nokia NOK etc.etc. tells you this this one is the only one that has gone to such new highs, except, of course, Apple AAPL, see below. We are neutral on it now that it almost reached our initial target.