I am. They are ridiculously overbought and look like they need a good blast downward. It's so obvious on daily RUT chart. Yet RUT went up another 10 points or so today. I'm just going to keep piling on put spreads if it continues like this. Who is even buying at these levels? Just crazy.
I don't know what the catalyst will be. It's in severe need of some kind of retracement. I'm hoping the bears start getting hungry and cut the horns off these belligerent bulls. Really, enough is enough. 1040 - 1186 with no retracement whatsoever. This latest bull run is getting old.
I agree...I just don't understand the mentality to jump on something that has been on a run like this. Nothing anyone could say would convince me that this is a good time to be long RUT,SPY or QQQ or pretty much anything at all time highs. But I think your right...I think most of the world is long. So when this comes unhinged it will probably be ugly.
Not really. The professionals are long. Most of the world is trying to short. This kind of market attracts shorters like moths to fire. The more short side business there is, the more reason to raise the price. The market is like any other business, it will go to the place where there is most business. It will not say no to those coming in with their life savings. Eventually the life savings will dry up, then the market will decline.
In my experience, go with the flow. Money flow is chasing stocks. If you get bearish, get flat and wait until a better set up. Short an up market is just painful. 1245
I don't know what the catalyst will be. It's in severe need of some kind of retracement. I'm hoping the bears start getting hungry and cut the horns off these belligerent bulls. Really, enough is enough. 1040 - 1186 with no retracement whatsoever. This latest bull run is getting old.
RUT is way above the DMA. It's coming down sooner rather than later. Looking forward to seeing the bulls get their tails burned.
I don't understand the desire to step in front of a freight train simply because the train has been traveling longer than most deem statistically probable. You're not just fighting the Fed. You're fighting every central bank there is right about now. No doubt this will end in an amazing and catastrophic explosion, but why subject yourself to trying to call the top and the pain that is associated with that?