Can these BS theard be moved to chit-chat moderator? Here is a quote from the FDX post "If you want to post your trades the better place for it is in the Journal forum. Also making posts just saying FDX short scalp without reason for it or any analysis, adds no value. Plus this is not a forum to drive traffic to your blog." I think these kind of theards is even worse than the Fedex one with a new one being added on a daily bases.
How about a section for baseless forecasts and random guesses on what the mkt will do in some unspecified time frame.
I don't and won't (and am not able to) successfully call tops and bottoms, but even the bulls have to admit this market's refusal to react to any negative news (except to head higher) is irrational. The only other issue is what level of exuberance there is. *Caveat - I have money in long positions now, but not as much as I did a month ago.
irrational? I have no idea. But when a market goes up in theface of bearish news, thats as bullish as it gets.
I look at it this way. Since the market trend is rising I look for longs. The risk is not any more or less than any other day when the market is trending. I use the same money management whether it is the first day of a bull market or the last day. The most I can lose is what I was willing to lose in the first place, so who cares?
I don't think it's irrational yet... we have a ways to go before it's 'irrational'. Irrational is when the P/E's are above 100 and the stock can still move $5-$10 a day up. On the other hand, after the last 'irrational exuberance', people are a lot more cautious this time around. I've gotten rid of a few longs today, and I hit the tops on a few, which is nice. That's not to say they moved all that much, but some gain is better than any loss later. I'm holding on to my most irrational tech tho. IF, and it's a big IF, the whole 3rd year of Presidency, no recession, stocks are going up thing comes about, and we get some irrationality... it will be tech that's irrational as usual. Gold has been down a few days. You may want to look at some of those too. Sooner or later, it's going to move.