i'm quite certain these olde timey contrarian rules no longer apply when you're betting against the fed ...
Especially it works if the "crowd" out there "thinks" to make easy money. Put/Call ratio 1:5. So many bulls out there, I ask myself who will be the greater fool ?
When the Fed finally makes an announcement, QE2 had better be huge/renewable or else markets are going to be sorely disappointed. The get-long-anywhere-it-doesn't-matter trade is getting crowded, we'll see what happens when someone decides to hit the brakes. Congrats to those making money, though.
Covering here at 1178.25 for +16 Some of my best ever trades. Unfortunately all on my small 'airwaves account' Real account has been getting beaten up, mainly due to attepting to catch tops in a market destined to only go up in the long haul, lol. Will get long again at 1174