Sentiment continues to hover at dangerous levels as we enter this seasonally strong time of the year. Many are willing to ignore sentiment data because it has not mattered to this point. That is akin to standing next to a ticking time bomb because it has been ticking for a while but has not gone off yet.
It is certainly possible that the strong seasonality may delay any correction until January. However, it seems that is what everybody is banking on. By definition not everybody will get out safely. I understand the desire to play the strong seasonality but with the VIX at 15 there is little excuse not to take some protection along for the ride.