The AP is carrying a story about a recent surge in IPO filings. This past Friday marked the highest daily number of IPOs filed with the Securities and Exchange Commission in six years, with 10 companies registering to sell their stocks on the U.S. markets (the average number of IPOs filed with the SEC has been 1.3 per day over the past 12 months).

I immediately saw this as a bearish signal. Does that mean I’m selling every stock I own? Certainly not. I will, however, be keeping a much closer eye on how the market behaves in the coming weeks.

One final note: The last time more than 10 IPOs were were filed in a single day was in March 2000 - that, of course, was just prior to the bursting of the tech bubble.