I voted that I would reduce my positions. I'm with you on the whole "buy dips" strategy, but it's beginning to wear thin.
It is taking all of my energy to stay long...the bears make good points, but what about letting winners ride?
Implied vols even though low, are much higher than realized vol. Either A - people are still fearful, so crash will not happen now OR B - options are pricing in positive autocorrelation, aka momentum.
Took out a new high today and now basing in a tight range in the lower half of the overall day's range. I wouldn't do anything unless we break the low in which case I would cover some if not most of the position.
historically, Mon after the Good Fri is a down day. so, switching to short may not be a bad idea. qqqq just closed the overnight gap