This is the one you want to avoid at all costs! I saw a lot of these back in 2000. I also saw it in Apple ( AAPL) back in fall of 2012. A decent technician gets out of the way of these types of trends. Stubborn fundamentalists hang in there insisting that the market has it wrong. That is why I like to combine fundamental with technical. It gives me more evidence to consider. I am a very, very demanding investor. I must have performance numbers on a stock that show me that it is far superior to the rest of the market. Sorry, Cisco ( CSCO). Sorry, Intel ( INTC). But I also demand a reasonable valuation. I like stocks that have the potential to double over the next five years. The numbers have to support my equation. Valuation without performance is like shopping at J.C. Penney. Lastly, I demand a healthy a stock chart. This really narrows the field down considerably. In fact, usually only 200 to 300 stocks make my watch list of the 3,600-plus that I track on a daily basis. Tesla was ranked #1,015 on Tuesday. Not even close to being worthy of my requirements. Data from Best Stocks Now App I warned as many as would listen. Valuation still matters! Follow @billgundersonThis article was written by an independent contributor, separate from TheStreet's regular news coverage.