No not yet. This week will include downside action. Let's see. The sentiment is way too extreme for the market to rise here. Usually you cannot fight the fed, but they don't have ultimate control and when sentiment is this biased, it can only go contrarian.
What's risky is a long entry when, as poster above me said, sentiment is very high. You might catch a few % but if you target more than that it is best to wait for a dip and then buy on the way back up. I'm sure every long/short fund or investor is schizophrenic. I am long certain stocks because I happen to find them undervalued (this includes LAD, DRYS, MSFT and some other stuff). I've had LAD and DRYS for a while so you can figure that these guys more than made up for my loss in AAPL over the past months. I personally find the S&P 500 and other indices to be overvalued (as opposed to the stuff I actually own which is not, in my opinion).
i certainly cannot argue that sentiment is absurd, as is valuation. but the fed has shown it will sacrifice itself and the country before the stock market.
Yes, and after this expiration week, the fed will again be in control. But with excessive sentiment and expiration, there is only one direction to go..down.
I opened some shorts on GOOG, BIDU, FCX, POT. and Long SDS. Almost 20% of my a/c. Lets see what happens in cpl of days. not planning to stay short for long. will close these on the next tripple digit UP day. P.S. Bought some 35 strk calls JAN exp. on BBY. Just a bad Gambling habbit.
Yep, I am holding my SHORTS and boxers If we gap up and get a tripple digit gain day. I am reversing my SHORTS and probably would need to change my Boxers as well.
Use all the technicals you want, at some point you have to realize almost every event in the near term is bullish and there's overwhelming bullish sentiment. Did your "double top" tell you that? Technicals are good, and I'm not saying your wrong, but consider all the other things as well