Either buy the highs wait for a tiny dip, or step aside. So far this has worked buying near session highs, only to make another high the following day. MLK Monday, futures will rise Sunday night just like they always do.
In all seriousness; how long do you people think this market continue going up? I had to check and couldn't believe this thread is over 10 years ago by now.
It will turn when it turns, sounds simple and it really is. I gave up trying to predict, I just react to what occurs daily. And what's has been working. Like buying the overnight rally. Happens 9 times out of 10. Personally I have never seen this market this stretched before. But I've only been around since 2000.
So Amazon added $25,000,000,000+ in market cap in only a week!!!! Now sit back and let that sink in.....think about it....$25 billion+ in market capitalization added in 5 trading days.......do earnings or future growth warrant such an increase in market cap??? The law of large numbers eventually catches up with companies....think about it....for the markets to maintain such upside and with Amazon one of the leading stocks in the Nasdaq 100 if it added just $20 to it's stock price per week, that would be approximately $9 billion in market cap a week or $500 billion in market cap in a single year... earnings would have to be absolutely perfect to maintain such an advance in it's market capitalization....case and point law of large numbers....the possibility that the markets end up imploding in on themselves due to the fact that growth can only be sustainable to a certain degree...... Which brings me to the definition of "law of large numbers" law of large numbers indicates that a large entity that is growing rapidly cannot maintain that growth pace forever.
This is the absolute it's ever been stretched before...least back in 1999 and going into the crisis of 2008 there was actual volatility and great dips, this has been nothing but up....they said last year every 1 in 4 trading days was a historical high, how insane is that!!!
Just like yesterday, after the cash close...panic buying. Now everyone know about Sunday night rally.
Trading the index futures has become so boring....I'm serious. No challenge just buy and do nothing except count your money.