There's a third option: Staying flat and waiting for a sell signal which confirms it actually is a top. There's quite a few of us now who thinks this market is irrational and all that, but the thing is that this market has been that for a long time now. And there's no reason it can't continue being that for quite a bit longer as well. Do you agree that it's perfectly possible that this market easily go a few hundred points higher before topping? Sure, it may not be your main scenario, but certainly you must see that it's a possibillity?
3500 to 2645 is my 12 month range Same one I posted in January While it's possible there is 3% upside, I know what my position will be when we do fall 20-23 %.