A diary of the thought process behind my investment decisions
The market remains overbought, which makes it difficult for the bulls to make much headway. Sentiment has rebounded from the levels of extreme pessimism two weeks back but is is still closer to extreme pessimism than extreme optimism. The picture is mixed and is a recipe for traders to get whipped around. I believe we are stuck in a range. I remain short an array of puts and if we get to the top of the range I will likely short calls.