By madness I was simply referring to the massive gap up and Globex run going 30 + above Friday's close. I'm usually always leaning long in indices, but I think we can see some pulling back going into the election. I could easily be wrong, but contrary to what some other believe, I do think the election is kind of a big thing. It seems like what the markets dislike above all is uncertainty. Even if a news item comes out bad it could be bullish afterwards as it's no longer an unknown.
@Laissez Faire has many friends on this thread, careful Edit: or were you talking about V-man? (Either way, who has never got burned? Peace)
I've been burned plenty shorting this beast. Which is why I generally hate it. LOL. I feel I should have a very good signal/reason to short.
I know, I know, I just have this knee-jerk reaction every time someone says "madness" I agree, but I think the risk of uncertainty around the election will come ***after*** the election. Maybe the polls are all over the place, but if it's as close an election as it looks like now, we're likely to have Bush-Gore redux, only worse. (After all, 2020 wasn't even close and they're still trying to litigate it). So leaving aside that no matter who wins, the other half of the country will think it's a disaster and feel cheated... what if it takes *months* to declare a winner? (plus the real potential for domestic violence, foreign interference, etc.)