You're probably right. In fact, of all the posters on this site, you're one I would listen to over anyone. But there's no harm in buying small positions, and letting them run while the stupidity is in season.
"Strong Rally On Weak Volume For Nasdaq Striking about Mondayâs rally was the very low volume in the Nasdaq. It not only fell below the high levels achieved during Thursday and Fridayâs wild trading, but it actually posted the lowest volume in over a week. This brought about a compelling study from the May 19,2009 blog post. Iâve updated that study below:" http://quantifiableedges.blogspot.com/2010/05/strong-rally-on-weak-volume-for-nasdaq.html notice that as of Wed Close we are actually +1% from Mon Close. So either it is one of those rare instances when the market keeps going up, or we are due for a nasty sell-off in the next couple of days.
a quick scan of business headlines reveal no mention of the last week crash at the top of the list. looks like the crash is mostly forgotten already. the media coverage is nothing what i have expected from such a major event.
It's definitely been an inconvenient truth. What about the over leveraged carry traders, daytraders trading 50 lots.... the prop shops, the Margin calls, the Market Makers... surely someone went bankrupt?