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.

4 comments:

Anonymous said...

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.

Anonymous said...

I bleieve there are daytrading short opportunities, but I would agree with OriginalChaos.  This has the makings of a persistent summer rally.

Tsachy Mishal said...

Somebody has been buying.

Tsachy Mishal said...

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.