New market highs have always been great areas to short long term in recent years, just let them take all stops first and annihilate most shorts as you said.
There aren't any REAL buyers left either, this looks like just the FED buying up equities. By definition, this is socialism.
i am going on the record now i think the market is going to correct soon. i been a bear for at least 200 points in the s&p on the economic side but i never said market was going down. its been to strong to say it but i really believe it in my gutt now it will soon. i think at some point people will say why are we buying techs just because they been lagging the market. the div trade is dying off because they are overvalued and earnings are only good off cost cutting and lower interest rates. i think the fed can even raise its 85 billion per month but again that does not make companies sales grow and how much more cost cutting can they do? i saw someone put a 1900 target on s&p for year. i saw 2 of the dr dooms turn positive on the markets for the year. i only read positive news on the market now and how it can't go down because the fed is backing it. it can run for a while i know that but its getting to the point were economist are saying you need to buy the market because of the fed money. that's major because most economist didn't think the economy is good at all.
i can't fight what people are seeing right now but i go back to thinking about other tops and its the same irrational view. when you listen to fed people talk they say things about inflation or unemployment and nothing about the bubble. the government is still fighting about the budget. the data numbers are terrible and the job report was a joke. we created a ton of $9 per hour jobs for every 500k the fed spends. this is just showing you people who can no longer collect unemployment are taking anything now.
that's a good point. The truth is no one can be certain if it's going higher or when it will correct, but the fact that so many people have been wrong about the current rallies top is interesting. It's got to the point where I don't know anyone who's still short. I remember few weeks ago everyone I knew was short. it can go eitherway, but pretty much everyoe is stunned.
exactly i was watching a yahoo finance video clip were the guy said he just rather stay dumb and long. there is nobody short because they keep getting burned that's why you see people going in the tech stocks now. if you turn on cnbc all they talk about is whats undervalued but it seems like people with to much money now being desperate to use it. have we reached a point were free fed money is not worth buying US stocks with anymore? i don't see the fed cutting off the money but what if people don't use it on US stocks. i believe the market can go up but i don't see how companies can make more money than they are right now.
Tops or Bottoms are no longer relevant to me as a trader or 401K (retired investor). What is relevant is some of the positions I have are starting to get stopped out. In my 401K the Healthcare Sector stocks Pfizer and Merck stopped me out after a nice run up since February. In the Utility Sector half the positions are stopped out. Then the opposite with the cash trading account my automation is going great with these techs running up. So I am a no call.