People not related to investings (a.k.a the crowd, the general public), when they learn I work at an investment firm, they ask me about stocks, too enthusiast. Is this market becoming too one sided?
This shit is setting up for an 87 style meltdown. Tomorrow the fed removes the facility backing money market funds. I say, we get one last burst to 1090 to 1100 in ES, and then one sharp correction of about 100 s&p points. So, you should be taking profits right here, and looking to short at the end of September. The NY fed bought treasuries on sept 15, that's been the fuel for this latest pop, it's sort of running out of steam though.
I'm afraid of the very same thing. However, in '87 the market was in a long time uptrend, and rebound to continue in an uptrend for some years. This time we've been in a sideways market (altough with very high volatility) since '98. We may continue so for some years.
Anecdotal evidence suggests we have too much unjustified optimism. But that is a fickle indicator - this could go on for weeks/months. Banks are still loaded with poor performing loans not adequately accounted for. Retail is having problems. Unemployment is still climbing. But the trend and and chart are bullish. Don't stand in the way of a roaring freight train.