I remember what it felt like in October when markets topped. That first ugly looking weekly candle was met with disbelief, because the rally had been so strong. Oh, it's just a small dip, it will recover and make new highs like it always does.
This week, it's more of the same. Most people are still wildly bullish. Markets have been wildly disconnected from fundamentals.
I've been cutting long positions and moving to very conservative positions. Mostly cash. A handful of puts here and there. The SMH looks weakest. Control your risk, always limit losses.
They can just keep creating money and keep ramping stocks. So who knows?
This week, it's more of the same. Most people are still wildly bullish. Markets have been wildly disconnected from fundamentals.
I've been cutting long positions and moving to very conservative positions. Mostly cash. A handful of puts here and there. The SMH looks weakest. Control your risk, always limit losses.
They can just keep creating money and keep ramping stocks. So who knows?