if somebody is bullish on this market, does not it make more sense for them to bet on oil than on S&P? there is a seasonal demand for oil during spring/summer while there is a "sell in may and go away" notion for the general market.
Oil, gold, equities, AUD, CAD, silver....any asset class works. But for the love of God, stop shorting.
i think i got it! IRA contribution deadline is Apr 15!!! smart algos have been front running people contributing into their IRA. this may partially explain 6 + weeks in a row. it is a self-fulfilling prophecy: you get people excited with the market going up non-stop and they contribute more. exactly one year ago we also had 6 weeks up in a row, before the market dropped 6% in 1-2 days on Apr 20. i am thinking that this time the drop does not have to take place exactly after Apr 15. given the overbought market, the drop may happen any day now.
This market is incredible, talk about another step higher this morning followed by nothing but sideways trading, as long as its higher is all that matters, this is getting quite over done at this point, earnings season starts tonight and even though nearly 99% of stocks have priced in this quarters earnings results I am sure they will rally another 10-20% after they report.
1. drive the market slow and steady up as close to Apr 15 as possible, smart money accumulates profit on the long side 2. mom and pop funds IRAs enticed by easy money 3. smart money pockets profits on longs and switches to short by Apr 15 4. pull the rug (will be some bad news blown out of proportion) around Apr 15 or soon after, trigger stops of mom and pop 5. smart money cover shorts, making money on the short side. 6. the market is where it started a month ago, ready for another game to be played.
yes, it would. i would keep laughing until somebody checked me into an institution and injected with 2000 mg of thorazine.