Everybody's Bulled Up
Everybody's all bulled up after the S&P has skyrocketed. The only thing that is missing for a reversal is time. Today is day eight of the rally and we typically do not see good exhaustion until after ten days. That works out to Turnaround Tuesday. I am trying very hard not to go net short before then although it will be tough to stop myself if we gap up again tomorrow.
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4 comments:
I'm short small and regretting it. I don't see universal bullishness. Everyone I know is underinvested and underperforming, or short and getting roasted. Performance anxiety is rampant. Frustration will likely keep this thing going for a while.
I bleieve there are daytrading short opportunities, but I would agree with OriginalChaos. This has the makings of a persistent summer rally.
Somebody has been buying.
Maybe true, but I dont believe it will be straight up. We will get a good overbought reading at the close Monday and I believe it should be heeded.
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