Random Thoughts

  • I was hearing a lot of "you are an idiot if you are not bullish" talk this morning. The risk/reward is not generally great when people talk like that.

  • There is like more put activity today than the bears want to see, especially at the ISE.

  • How many bears gave up on Friday? Will be interesting to see the Investors Intelligence numbers Wednesday.

  • I get very annoyed at the cockiness of the bulls at times like this. That's fine, but I must not let it effect my trading.

  • As long as corporate profits hold up and we don't have  a systemic event we are unlikely to see anything more than a garden variety correction. Valuations are reasonable.

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