you would have said that 25% into the move when it already looked parabolic the same way as shorting a stock that doubled looks like a good idea until it goes up 10x.
I didn't say it back then. Look at the move in the last 12 months, and compare it with the prior 5 years. Can you say Parabolic to the nth power?
You would go short today and there's a good chance it bubbles 50+% higher. You'd be killed before the roll downwards starts. Just like people were caught on the wrong side too early in 1997, 1998, 1999.
yep, that consolidation halfway up will not look like the consolidation that marks the halway point when there are another 7 that follow. Seriously though, it seems that most of the urban population have opened accounts now, so allowing for the fact that these things go on much longer than commonsense and rationale would suggest, maybe just another 50-100% to go.