Haven't you guys learned yet? This market is stubbornly going higher...the more of these threads that show up, the more confidence I have that this market will continue higher. Sure we are due for 2-3 day pullback...then you will have threads of people saying, "I told you the market is going lower, crashing etc" and then guess what we will push to new highs on the year. Don't fight the tape people, As a trader you should not hold these irrational biases. Trade the tape in front of you.
I do agree that this market as a whole may go higher as long as AAPL holds, but one crash could destroy all.
If the market goes red im sure we'll see an emergency announcement from the fed that Bernanke is contemplating more QE...
Just trade the momentum. Very hard to buck momentum in a grinding tape like this one. The time to fade extremes is in a sideways or volatile tape. In a low vol grind up...tops aren't put in days. It usually takes weeks if not months to put in tops in a uptrending market.
I said might because I don't believe it will happen but I see many big stock holders are unwinding themselves.
Why sell? Buy! Even though it's all manipulated and the fundamental story is rather sad, the dollars you extract from this "fake rally" by buying the dips and selling the new highs are accepted everywhere regular cash is accepted!